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Credit Union Member Deposits Help Stoke Savings Growth Spurt

Wednesday, August 7, 2013 - 5:27 AM
From the Credit Union Times:
“Given the extremely low deposit yields, 6.0% annual growth is remarkable and reflects a combination of members seeking safe haven and possibly deposit yields higher than necessary,” wrote Dave Colby, CUNA Mutual chief economist, in the report.

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Many credit unions have plenty of deposits. That's not good for deposit rates. As you can see in the above quote, the large growth of deposits allow credit union officials to lower their deposit rates.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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