Florida credit unions among top in nation for Q4 growth

Credit unions in Florida had a strong fourth quarter showing, reporting top ten ranks among credits union across the country for asset, loan, deposit and member growth.

Florida credit unions were No. 6 for deposit growth in the fourth quarter, increasing deposits by 6 percent, according to a report released Friday from the National Credit Union Association.

Sunshine State credit unions were No. 10, No. 8 and No. 9 among credit unions across the country when it came to asset growth, member growth and loan growth. Florida credit unions grew those categories by 5.6 percent, 1.4 percent, and 6.9 percent in the fourth quarter, respectively.

Across the country, median loan growth was 4 percent, according to the NCUA. National asset growth was 3.3 percent, while deposit growth was 3.8 percent. The median rate of growth in members was negative across the country, at -0.2 percent.

The NCUA was created by the U.S. Congress to regulate credit unions. It is an independent federal agency.

Original content south Florida business journal.