Berger touts CU gains in press
NAFCU President and CEO B. Dan Berger
Sept. 3, 2013 – NAFCU President and CEO B. Dan Berger was featured in two articles covering the strong loan growth experienced by credit unions in the second quarter, after data was released by NCUA.
The Washington Post wrote, “Credit unions reported $613.7 billion in total loans in the second quarter, an increase of nearly $14 billion from the previous quarter … The uptick in lending comes as financial cooperatives have attracted more members, nearly 2.1 million in the last four quarters. Membership has now reached 95.2 million across the country.”
The Post quoted Berger as saying the upticks in lending and membership are complementary: “If you look back through the financial crisis, credit unions continued to lend while banks pulled back or completely stopped. That trend is just continuing on as the economy gets stronger.”
Housing Wire covered the same data, and quoted Berger saying the NCUA report “validates the fact that credit unions are helping to keep our economy moving by continuing to provide their members with low-cost, high quality loans despite the challenging lower interest rate environment.
The data also showed that credit union loan growth was higher than any quarter since 2008 on a year-over-year basis, and that delinquency ratio and net charge-offs were significantly lower than they were a year ago.
Housing Wire article
Washington Post article