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Texas CU Members Moving from Checking to CDs

Five years ago, members served by Texas' credit unions parked half their deposits in shares and checking accounts. Today, they are moving those funds into certificates of deposits.

By Michelle A. Samaad | Updated on July 15, 2009

Five years ago, members served by Texas’ credit unions parked half their deposits in shares and checking accounts. Today, they are moving those funds into certificates of deposits.

It is one of several trends tracked by the Texas Credit Union League. Five years ago the largest portion of the loan portfolio was in new automobiles. Now, loans are blended across several categories, and there has been a significant surge in first mortgage lending, the league reported. Although loan growth for the first quarter was 1.4%, the growth rate from first quarter 2008 through first quarter 2009 was 9.3%, which was higher than at anytime in the past five years. Assets grew 10.6% over the end of first quarter 2008.

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