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2013 a Good Year for CUs in Cornerstone Region
Tuesday, January 21, 2014 7:00 AM

The year 2013 was a good year for credit unions in the Cornerstone Credit Union League region. According to Cornerstone’s research department, during the past 12 Months, credit unions in Arkansas, Oklahoma and Texas wrote 11,302 new loans every single business day. Additionally, these credit unions added more than $118 million in new money to their local economies every business day through responsible lending to members.

Other highlights over the past 12 months include:

  • Added $8.4 million to their local economies every single day by buying products and services to support their operations.
  • Increased their headcount by three percent by adding 747 more people to their staff of over 26,000 employees.
  • Spent more than $1.5 billion employing those 26,000 people at a time when banks were closing down operations and terminating employment.
  • Supported federal, state and local governments by paying over $227.8 million in taxes.
  • Spent nearly $31 million training and educating their staff at conferences and meetings.
  • Spent over $118 million advertising and promoting their services to their membership and non-members alike.
  • Hired additional help outside of their payroll, purchased services such as information technology, and spent over $260 million for those professional services.