WEST PALM BEACH, Fla. – There’s no shortage of issues facing state-chartered credit unions and affecting the legislative and regulatory climate state-chartered credit unions are operating in today – state budgetary crises, bankers’ challenges and suits, new federal regulations, to name a few. But the latest data from the Massachusetts Credit Union Share Insurance Corp. and based on NCUC 5300 call reports, show that SCCUs – and the dual chartering system – are continuing to thrive. Although there are fewer state-chartered credit unions as of June 30, 2003 than there were 12 months ago – 3,782 and 3,902, respectively – SCCUs have managed to maintain a steady share of market in key areas such as loans, share and assets of the total credit union industry. An analysis of SCCUs’ key ratios, however, shows a falloff in loans-to-shares and loans-to-assets, as well as net capital. However at a time when competition with auto manufacturers’ incentives has taken a toll on CUs’ auto loan portfolios, SCCUs’ auto-to-total loan ratio has gone up, as has their mortgage loans. Member business lending continues to be a particularly strong area for SCCUs. -

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.