RANCHO CUCAMONGA, Calif. — Both California and Nevada credit unions posted much lower gains in nearly every financial category in 2006; however, the cooperatives still achieved moderate growth, despite the region's struggling real estate market.
These are the findings from the WestScan annual financial report released July 5 by the states' leagues. Credit unions in both states saw significant decreases in loan growth, deposit growth, asset growth and returns on assets; however, they are in line with historical average annual gains, and for the most part, still outpace national averages.
For example, California saw loan growth drop to its first single-digit pace in three years, at 9.14%. However, that rate still outpaced the national average of 7.83 percent. And, the shift from real estate loans to higher rate products like credit
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