NJCUL's 2Q Mid-Year Profile Available

Posted by Marissa Anema Tuesday, October 12, 2010 4:24:13 PM

HIGHTSTOWN, N.J. - The New Jersey Credit Union League has released the New Jersey Credit Union Quarterly Statistics for the Second Quarter 2010. This report is the second installment of the new League service for member credit unions. It provides a quarterly snapshot of the status of N.J. credit unions as compared to the nation's credit unions.

The snapshot is made up of statistics compiled by CUNA. It provides an overview of the trends in the state of New Jersey in the second quarter, such as economic growth, home prices, employment changes, and the unemployment rate. It then goes on to place N.J. credit unions within that context and also compares them with the national averages for credit unions.

According to the report, New Jersey credit unions have a lot to be proud of. Highlights of the report include:

  • New Jersey credit union memberships increased to a total of 1.15 million - a first-half jump of 24,000 or 4.25% (annualized). The increase comes on the heels of annual declines in memberships in each of the previous three years.
  • The state's 2.1%, 12-month increase in total memberships is especially impressive when compared to population growth trends. The U.S. Census Bureau reports a 0.4% average annual increase in New Jersey population over the past decade.
  • If sustained through year-end, the 2.1%, 12-month increase would be the fastest increase in New Jersey credit union memberships since 2002, when memberships jumped 2.2%.

To access the New Jersey Credit Union Quarterly Statistics - Second Quarter 2010 click here. Because this is only available to League member credit unions, a password is required to access the content. To obtain a username and password, please contact Candice Nigro at cnigro@njcul.org or 800-792-8861 ext. 110.

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