OCR Text |
Show County Credit Unions Grow Beaver County's credit unions have participated in a continued contin-ued steady state-wide growth as disclosed by a yearly statistical stat-istical review just completed, according to W. S. Hook, Salt Lake City, president, Utah Credit Union League. At the end of 1961, Utah had 111.206 credit union members mem-bers compared to 100,013 the previous year. During 1961 ten more credit unions were operating oper-ating in Utah, bringing the total to 261. Largest increase occurred in total assets which rose from $54,386,000 in 1960 to $66,496,-000 $66,496,-000 in 1961 for an increase of 22 per cent. Saving showed the second highest rate of increase, raising rais-ing from $50,248,000 "in 1960 to $59,496,000 last year, representing represen-ting an increase of 18 per cent. Although credit union loans are predominately small in amount, am-ount, the state total for the 281 credit unions was $55,-386,000 $55,-386,000 on December 31, 1961. Sate-wide reserves stood at $1,990,000. at the year end. |