An analysis of the third quarter 2013 data shows solid financial performance and growth among state and federally chartered Kansas credit unions.
Strong growth continues in loans and shares, and Kansas credit unions were ahead of national trends in assets, capital and member growth, while delinquency still remains below bank and credit union peers both regionally and nationally.
Growth in loans and shares. Loans remain well above national averages at 8.5 percent growth, compared to 6.8 percent nationally. At 5.5 percent share growth, Kansas credit unions beat the national average of 4.1 percent share growth.
Member growth. Kansas credit unions reached 641,000 members, a growth of nearly 15,000 members over September 30, 2012.
CUSOs: Credit Union Service Organizations. Participation in CUSOs has risen more than 40 percent annually in Kansas. CUSOs are corporate entities owned by a single credit union or multiple credit unions, which illustrate the cooperative and collaborative spirit of credit unions. Through CUSOs, credit unions can extend products and services to their membership and provide alternative sources of income.
More than one third of Kansas credit unions are invested in at least one CUSO. Nationwide, the CUSO market is thriving with more than 2,600 credit unions participating in at least one CUSO.