ST. PAUL, Minn. (8/5/13)--Minnesota credit unions continued a trend of steady growth in the first half of 2013, maintaining gains in membership and loans, according to the Minnesota Credit Union Network.
"Minnesotans trust member-owned credit unions and have always been strong advocates for them," Mark Cummins, MnCUN president/CEO. He said many consumers feel that credit unions--rather than for-profit financial institutions-- are "more aligned with their values."
Overall, Minnesota's credit unions experienced mixed results in key financial performance indicators for the second quarter. However, modest economic growth is expected to improve credit union operating results during the remainder of the year, MnCUN said.
Minnesota consumers and businesses also continue to choose credit unions as their primary financial institution.
State results in key areas include:
The summary and analysis was compiled by MnCUN from NCUA's quarterly report.