Kansas credit unions perform in top five nationally
01/08/2011 12:00 AM
01/08/2011 12:06 AM
New research from a national consulting firm says the state's credit union industry performed in the top five in the country.
According to Washington, D.C.-based Callahan & Associates, Kansas was ahead of national trends in assets, shares and loans in the year-over-year period ending June 30.
Callahan said the industry in Kansas had a 5.18 percent growth in total capital.
Kansas ranked third in loan growth and member growth and first in auto loans per members annually, Callahan said.
Callahan released the research on a blog at CreditUnions.com.
The research said loans increased 6.4 percent, membership rose 4.71 percent — or 27,000 new members — and auto loans were up more than 25 percent.
Callahan senior analyst Nick Connors said the data was part of the firm's annual examination of industry-wide trends.
State credit union officials said the results show that Kansas credit unions are "pretty conservative" and didn't get into the activities that some credit unions in other states did.
" (Kansas credit unions) didn't have as deep of problems," said Marla Marsh, president and CEO of the Kansas Credit Union Association.
Marsh said Kansas credit unions also didn't face the same regulatory restrictions that banks did on lending.
"Where other financial institutions were being told to restrict some of their lending activity... credit unions continued to be a source" of loans, she said.
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