Colorado: Economy on a Rocky Mountain High or Just Rocky?
The economic recovery in Colorado is a rocky one, with some industries and cities rebounding while others continue to struggle. However, the state’s credit unions seem to be on a Rocky Mountain high.
Credit unions in Colorado reported a healthy 89 basis points of positive return on average assets during the second quarter, according to the NCUA’s Quarterly U.S. Map Review. That compares favorably to 86 basis points for all federally insured credit unions during the same period.
“For the year ahead, we hope to see continued job growth and further stabilization of the economy,” he said. “We are contributing to this goal by building new branches for our members. In 2012, we built two branches and moved another to a better location, and have plans to build two more by year end. In 2013 we will continue our local expansion efforts, because when we open new locations, we’re delivering value and increasing convenience for our members.”
Another Colorado credit union that has continued to stay on top of the recession in Denver is the aptly named Denver Community Credit Union. This credit union with $232 million in assets has held onto an impressive ROA of 1.20% as of the second quarter.