PITTSBURGH — There has been new evidence that credit unions here and in Georgia were latching on to new growth opportunities from the continuing turmoil and consolidation impacting commercial banks.

"We've already seen four or five business lending accounts come to us because borrowers decided they would rather deal with a credit union," declared Mark S. Brennan, president/CEO of the $648 million Clearview FCU, of Moon Township. Clearview is located in a metro area with a new dominant player, PNC Financial of Philadelphia, the new parent of troubled National City Corp. of Cleveland.

Brennan said he has indeed seen a shifting of deposit business to his CU following the regulator-engineered merger of National City into PNC, which triggered turmoil in the banking markets.

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

  • 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.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.