Oct. 1, 2012 – NAFCU President and CEO Fred Becker discussed the opportunities for credit unions in the current marketplace in presentations given over the Web last week to two NAFCU member credit unions.
Becker, in separate presentations for planning sessions at Arkansas FCU and First New York FCU, said credit unions are extraordinarily well positioned in today’s financial services marketplace as trustworthy, cost effective institutions. For example:
- In the first six months of 2012, there were 12 credit union failures but 39 bank failures.
- In the same period, there were 396 “problem” credit unions but 772 “problem” banks.
- As of June 30, credit unions averaged a 1.2 percent loan delinquency ratio, but banks averaged 3.89 percent.
- Credit unions had an average 0.75 percent charge-off ratio, annualized, compared with banks’ 1.13 percent.
Becker said these trends leave credit unions well-positioned to continue to build membership, deposits and loans in the coming months.
“Credit unions are the bright spot in a financial industry still recovering from the financial crisis,” said Becker. “There could not be a better time to reach out to consumers to promote the value of credit unions and the rewards of being a credit union member.”
Becker conducts these online presentations throughout the year. Credit unions interested in this member-only service should send an email to Carolyn Sable at csable@nafcu.org.