ALBANY, N.Y. (12/23/15)--In the face of recent sluggish economic growth, credit unions in New York enjoyed impressive operating results in the third quarter, according to numbers released by the New York Credit Union Association this week.
Membership growth, perhaps the highlight of the report, rose 2.2% in the 12 months ending in September, pushing total memberships up to 5.2 million in the state. The performance marks the fastest rate of membership growth in New York since 2000, the association said.
The state’s credit unions experienced positive growth in a number of other categories as well, including:
“The latest New York Credit Union Profile report further illustrates that our statewide movement is growing, thriving, and in many cases outpacing national trends,” said William J. Mellin, NYCUA president/CEO. “It was especially encouraging to see loan and asset growth at credit unions in every asset category, reflecting the strength and diversity of the New York credit union movement.”