Credit unions in OH decline with increased mergers - WALB.com, Albany News, Weather, Sports

Credit unions in OH decline with increased mergers

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Albany teen seriously injured by hit & run driver

    Albany teen seriously injured by hit & run driver

    Tuesday, July 29 2014 4:02 AM EDT2014-07-29 08:02:54 GMT
    Albany Police searching for hit and run driver.More >>
    Albany Police searching for hit and run driver.More >>
  • Albany teen seriously injured by hit & run driver

    Albany teen seriously injured by hit & run driver

    Tuesday, July 29 2014 4:00 AM EDT2014-07-29 08:00:52 GMT
    Albany Police searching for hit and run driver.More >>
    Albany Police searching for hit and run driver.More >>
  • Worth Co. hosts open house

    Worth Co. hosts open house

    Monday, July 28 2014 11:24 PM EDT2014-07-29 03:24:37 GMT
    It's already back to school time for some south Georgia students. Classes start tomorrow in Worth County.On Monday afternoon, all the schools held open houses for parents and students.At Worth County elementary, families got to met the teachers and get acquainted with the school.The Principal says the staff is ready, and parents told us they appreciated the open house."We are just going to keep going strong with things that we have done in the past, we had a very successful school year last y...More >>
    It's already back to school time for some south Georgia students. Classes start tomorrow in Worth County.On Monday afternoon, all the schools held open houses for parents and students.At Worth County elementary, families got to met the teachers and get acquainted with the school.The Principal says the staff is ready, and parents told us they appreciated the open house."We are just going to keep going strong with things that we have done in the past, we had a very successful school year last y...More >>

AKRON, Ohio (AP) - Membership and assets of credit unions in Ohio have been growing despite a decline in their numbers as more of the institutions merge.

The Akron Beacon Journal (http://bit.ly/1bt1if3) reports that the number of credit unions has dropped 12.5% over the past five years in Ohio to 356. Industry experts say the decrease mirrors a nationwide decline as consolidation becomes widespread in the alternative banking industry. But they say remaining credit unions are becoming stronger.

Membership rose from 2.6 million to 2.7 million and assets climbed from $19.3 billion to $24.4 billion over the same time period.

A state Department of Commerce official says some smaller credit unions that had not kept up with technology and weren't attracting new members are among those closing or merging with larger ones.

 

Information from: Akron Beacon Journal, http://www.ohio.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.