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CUs in Cornerstone Region Make More than 1.5 Million Loans in First Two Quarters of 2014
Thursday, September 4, 2014 7:00 AM

In the first two quarters of 2014, Cornerstone credit unions have granted more than 1.5 million new loans and pumped an additional $17.3 billion into their local economies. Total loans under management by Cornerstone credit unions have reached $64.2 billion, as the portfolio grew 11.7 percent in the first six months of the year.

As of 30 June 2014

Total CUs

Total Assets

Total Deposits

Total Loans and Leases

Members

US

6,560

$1,117,106,048,119

$952,601,419,042

$681,999,557,650

99,240,508

       

 

 

AR

60

$2,649,879,086

$2,162,587,864

$1,710,707,701

330,417

OK

65

$12,514,867,897

$10,708,927,336

$7,471,967,744

1,162,692

TX

498

$83,664,558,186

$72,470,487,582

$54,991,833,647

8,229,251

       

 

 

Total Cornerstone CUs

623

$98,829,305,169

$85,342,002,782

$64,174,509,092

9,722,360

 

 

 

 

 

 

Year over Year Growth Cornerstone CUs

 

$5,449,652,169

$3,965,635,782

$6,724,661,092

386,720

 

 

 

 

 

 

Y/Y Percentage Growth Cornerstone CUs

 

5.84%

4.87%

11.71%

4.14%

Deposits grew by nearly $4 billion and membership increased by over a third of a million people. Overall, assets in the area credit unions are nearly $100 billion, growing 5.84 percent from mid-year 2013.

Through the end of June 2014 credit unions in Arkansas, Oklahoma and Texas have rewarded members on their savings habits with dividends amounting to $213.6 million. Net income equals $89.3 million during the same period and credit unions are retaining over $7.8 billion in undivided earnings.

 

(Source: Cornerstone Research)