Inland credit unions get stronger

By on January 29, 2019
Inland Empire Financial Earnings

Credit unions continued to grow in the Inland Empire last year, according to data.

About 23,000 people joined an Inland-based credit union between the third quarter of 2017 and the third quarter of 2018, the most recent data available, the Ontario-based California Credit Union League reported.

Twenty two credit unions do business in Riverside and San Bernardino counties, and combined they have approximately 375,000 members.

Inland credit unions distributed $2.2 billion worth of loans during the third quarter, a year-over-year increase of 15 percent, and collected $3.2 billion in deposits, a seven percent increase compared with the third quarter of 2017.

Inland credit unions spent nearly $70 million on employees and operations and employed about 930 people during the third quarter, the credit union league reported.