United Federal Credit Union Reports Strong Deposit Growth in Q2
United Federal Credit Union Reports Strong
ST JOSEPH, Mich. – United Federal Credit Union announced second quarter results on July 12. Total assets grew to $2.87 billion by the end of the second quarter which is a 7.2% increase over the second quarter of 2018.
Total deposits grew $24.7 million compared to the first quarter 2019 and $241.8 million compared to the second quarter of 2018 or a 12.5% increase.
Meanwhile, total membership grew by 1,350 to over 176,700, which is a 0.8% increase from the first quarter 2019 and 3.5% increase over second quarter 2018.
“Our second quarter results show steady growth in key areas of focus this year,” said Chief Financial Officer, Michael Ruchti. “Credit unions are not-for-profit organizations, so it’s exciting to see deposit and membership growth because that means we are investing resources back into the cooperative to directly benefit more Members.”
United Federal Credit Union has served its Members since 1949 by helping them to build a sound financial future. United consists of more than 176,000 Member/owners worldwide and manages assets in excess of $2.8 billion. Its corporate offices and main branch are in St. Joseph, Mich., with additional branches in Arkansas, Indiana, Michigan, Nevada, North Carolina, and Ohio. Federally insured by NCUA. Equal opportunity lender. Equal housing lender. For more information visit www.unitedfcu.com
Deposit Growth in Q2