Iowa Credit Unions See Largest Deposit Gains in US

Linn Area Credit Union, 619 20th Ave. SW, in Cedar Rapids. (Jeff Raasch/The Gazette)

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By Aaron Hepker

DES MOINES, Iowa (AP) — Credit unions in Iowa had the largest gain in deposits in the country in the past year and the state's credit unions had the second fastest growth in assets.

The National Credit Union Administration, which charters and supervises credit unions, released Tuesday its third quarter statistics for the industry.

The report says deposits at the state's 116 credit unions grew to $10.1 billion, up 9 percent from the same quarter a year ago, the fastest growth in the country.

Assets held by Iowa's credit unions grew 8.2 percent to a third-quarter total of $11.69 billion, the second highest growth rate behind Idaho.

Iowa credit union membership grew to just over 1 million, a 1.6 percent increase from September 2012.

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