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Credit unions demonstrated strong performance in several areas in the second quarter of 2020 – including membership growth, share balances, lending and asset quality – despite the economic challenges brought forth by the COVID-19 pandemic.

During Callahan & Associates’ quarterly Trendwatch webinar Wednesday, Chief Collaboration Officer Jay Johnson and President/CEO Jon Jeffreys revealed healthy membership growth numbers, with credit unions adding 4.1 million new members over the last year, and tremendous growth in share balances. In the first six months of 2020, share balances rose nearly three times as much as they did during the first six months of 2019 (13.0% versus 4.9%).

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Natasha Chilingerian

Natasha has served as an editor for CU Times since March 2015. She also served as a communications specialist for Xceed Financial Credit Union (now Kinecta FCU) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer for more than 16 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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