According to financial consulting firm Callahan & Associates (C&A), the year-end data – from more than 97 percent of credit unions nationwide – showed savings accounts grew by 11.3 percent and checking accounts grew 12.2 percent. In contrast, both Columbia’s savings accounts and checking accounts increased 24 percent in 2011.
Regarding lending, C&A figures showed fourth quarter loan originations hit a record $73.5 billion nationwide, fueling an overall increase of 11 percent for 2011. Columbia’s total loan originations for 2011 increased at nearly twice that rate, with business loan originations leading the surge, growing 128 percent over 2010, according to the credit union.
“One of our core values is ‘making life better,’ and that’s exactly where we kept our focus throughout the year,” said Columbia President and CEO Steve Kenny. “Whether we’re offering exceptional mortgage values or supporting the community with a donation to a nonprofit organization, we’re doing our part to make life better for families, individuals and businesses in our community.”
