Conservative Business Decisions Keep Bluegrass Credit Unions in the Green
Kentucky credit unions’ key financial indicators are positive, yet conservative. And, that’s just how they like it in the Bluegrass State.
“Kentucky is a fairly conservative state, so we don’t typically get the real high highs or the low lows you see in most economic cycles and that’s kind of the case here,” said Kentucky Credit Union League President Wendell Lyons, speaking about Kentucky’s statewide average of 0.80% delinquency.
Struggling credit unions tend to be smaller, Lyons said, although Kentucky has plenty of relatively small credit unions like Greater Kentucky that are doing well.
“It depends upon the sponsor group,” Lyons said. Kentucky is home to health insurance company Humana, four automotive plants, UPS’ worldwide air hub, and the bourbon and horse racing industries.