Oregon and Washington credit unions grew at higher percentagesthan banks from 2011 to 2012, while overall deposit market shareshowed a slight year-over-year growth, according to a financialanalysis by the Northwest Credit Union Association.

Based on deposits by branch, Northwest credit unions saw a 9.96%deposit growth compared to an 8.16% deposit growth by banks inOregon and Washington from July 2011 through June 2012, theassociation said.

According to Dan Hein, NWCUA vice president of administrationand finance, that growth can still be partially attributed to the“flight to safety” that was common from 2008-10, when consumerssought a more secure location for their savings than the stockmarket.

“The most recent year-over-year increase is still padded by someresidual flight to safety, but it also reflects credit unions'increase in membership in late 2011 and 2012,” said Hein.

Deposit totals among Washington credit unions increased by 9.5%in 2012. Banks posted a 6.84% percent increase, the NWCUA said. In2011, Washington's credit union deposits had increased by just 3.31% in 2011 while deposits in Washington's banks jumped by 3.85%.

In Oregon, credit union deposits rose by 10.95% in 2012, whichis their highest percentage of deposit growth since 2009, theNWCUA reported.

At Oregon banks, deposits grew by 10.51%. However, in2011, Oregon credit unions saw deposit growth of 2.87% in 2011,while Oregon's banks saw a 15.94% in deposit growth.

The NWCUA said Oregon's numbers in recent years are skewedbecause Bank of America's deposit totals jumped from just under$7.5 billion in 2010 to more than $12.5 billion in 2011 and to morethan $17.8 billion in 2012.

No other financial institution in either state showed suchaberrant deposit growth over the same period, according toNWCUA.

Credit unions in both states continued the recent trend ofmaintaining a steady share of the deposit market. Northwest creditunions accounted for $48,772,770 in 2012, good for a 21.37% of thedeposit market share, which increased from 21.09% in 2011, theassociation said.

Oregon credit unions held 18.96% of the state's deposits in2012, up from 18.89% in 2011, while Washington credit unions held22.72% of the state's deposits, up from 22.29% in 2011, the NWCUAreported.