MADISON, Wis. — Credit unions finished 2007 with just over $196 billion in surplus funds, according to the latest Credit Union Trends Report from CUNA Mutual Group.
Overall, surplus funds rose $4.0 billion or 2.1% in 2007, but borrowings may have been a big part of the increase. Total borrowings increased 51.5% to $10.9 billion last year with $3.8 billion coming in December.
"Special conditions in December made borrowing very attractive for some credit unions, but we believe this surge will be unwound over the course of 2008," said Dave Colby, chief economist at CUNA Mutual and author of the trends report.
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