The other good news for the Empire State is that 73% of its credit unions reported a positive return on assets as of Dec. 31, 2012. Statewide, New York’s credit unions earned an average ROA of 87 basis points, slightly higher than the national average of 86.
New York state credit unions best national ROAA average by a point while absorbing Sandy's blow.
The $2 billion credit union in Westbury, N.Y., said it provided $50 million in low-cost loans to the Long Island community.
The $1.7 billion NEFCU in Westbury, N.Y., said it opened a total of 932 accounts last week, nearly two and half times the normal pace.
The week prior to the official Bank Transfer Day, credit unions were busy encouraging consumers to take action.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.