MADISON, Wis. - CUNA News Now, as part of its look back on 2010, published an article titled "Consumer Awareness Translates to CU Growth - Leagues" that outlines Leagues' consumer awareness efforts - including those of the Pennsylvania Credit Union Association (PCUA), the Michigan Credit Union League (MCUL), and the New Jersey Credit Union League (NJCUL) - and their effect on credit unions' growth in membership.
According to CUNA, New Jersey credit unions grew by nearly 25,000 members in the first half of 2010. As of the third quarter, member loans had increased by 1.9%, compared with a national decline among credit unions of -1.2%. N.J. credit unions also saw a rise in member business loans at a 17% rate. Nationally, credit union member business lending increased at a 7% for the third quarter. First mortgages at N.J. credit unions were up by 9.3%, compared to a 2.3% rate nationally.
NJCUL President/CEO Paul Gentile told News Now that he attributes New Jersey's credit union growth to increased public awareness. NJCUL's "New Jersey Credit Unions: Banking You Can Trust" campaign can be seen and heard statewide on radio and TV, in New Jersey Transit stations, and on buses.
"The branding campaign is definitely helping," Gentile said. "We're pushing everybody to the [national credit union finder] Web site. New Jersey gets the second most visits of any state in the country, so we know we're getting people to visit that site. We think they're signing up for memberships and taking out loans."
The article is available in its entirety at http://www.cuna.org/newsnow/11/system123010-3.html.