Kansas credit unions finished 2011 with high growth rates in loans, assets, shares and members.
Loan growth continues to be the shining star and Kansas credit unions finished the year with a 5.88 percent increase, five times higher than the national average. Used auto loans and mortgages are the leaders in this category.
Shares increased nearly 8 percent last year with checking shares showing the largest percentage increase. The checking penetration also increased, indicating more credit union members are opening checking accounts.
Membership increased 2.4 percent, with Kansas credit unions adding 14,638 members in 2011. The national average is 1.4 percent.
"Kansas credit unions remain strong, especially in light of our economy,” said Bob Mayes, VP of Member & Strategic Services of the Kansas Credit Union Association. "With unemployment declining, delinquency and losses seem to have stabilized. Our used auto loan growth continues to be high, balancing new auto loans, which have declined in 2011.”