Pennsylvania credit unions grew slightly more than the national average last year in assets, loans, savings and membership, according to the Pennsylvania Credit Union Association.
The association said fourth-quarter data from the NCUA showed that the state’s 526 credit unions grew by 6% in assets, 2% in loans, 6% in savings and 2% in membership, the latter to 3.7 million.
Nationally, in 2011 credit unions grew by 5% in assets from the year before, 1% in loans, 5% in savings and 2% in membership, the PCUA said.
“Consumers continue to discover that credit unions offer lower fees and better service than other financial institutions. The continued fallout from Wall Street has led many consumers to seek out financial institutions operating within their communities,” said PCUA President/CEO Jim McCormack.
