Industry groups from Mississippi to Washington State were quick to trumpet membership gains and loan growth.
In announcing first quarter stats, the Washington Credit Union League said statewide membership increased by 40,000 compared to 20,000 for the same period a year ago. In addition, there was a jump in mortgage lending. The league said this was "another signal and further proof that the financial meltdown triggered by too-big-to fail banks and greedy Wall Street traders was not the root cause of the public's affinity for credit unions."
Meanwhile, the Mississippi Credit Union Association attributed its first-quarter 4.5% membership spurt-adding 24,000-to its "iBelong" awareness ad campaign as well as an interstate merger.
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