Minnesota credit unions continue growth trend in 2013

ST. PAUL, MN (February 12, 2014) -- Minnesota's credit unions experienced continued growth in most leading indicators throughout 2013, a trend that has continued in the years since the financial crisis. Credit unions have increasingly become a more popular and trusted choice as locally and member-owned financial partners for Minnesota consumers and businesses. Total Minnesota credit union lending showed significant growth in the fourth quarter, increasing by $202 million over the third quarter. For 2013, credit unions nationwide have experienced growth in lending that has outpaced savings for the first time since 2007, according to the Credit Union National Association's Credit Union Monthly Estimates for 2013. In Minnesota, credit union loan growth in 2013 also outpaced deposit and asset growth, illustrating how credit unions continue to support and strengthen communities while creating a positive impact on their own income statements. "It's very encouraging to see the continuing demand for loans," said Mark Cummins, Minnesota Credit Union President & CEO. "More lending is a good sign that consumer and business confidence continue to improve after the economic downturn, and credit unions are helping to contribute to the state economy's overall growth." READ MORE: http://minnesotacreditunions.us6.list-manage.com/track/click?u=e8da7b565a556267c8d3edfc7&id=48af01fe65&e=440b8755b9