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Article: Challenging times close in on Pennsylvania credit unions.
- Article from:
- The Morning Call (Allentown, PA)
- Article date:
- August 29, 2004
CopyrightCOPYRIGHT 2004 The Morning Call. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kurt Blumenau
Aug. 29--Pennsylvanians love their credit unions. But, in a fiercely competitive industry, it's going to take more than sentiment to keep the community institutions thriving.
These are challenging times for the more than two dozen credit unions based in the Lehigh Valley, and for the almost 700 credit unions across the state.
Pennsylvania has more of the cooperative financial institutions than any other state, according to the Pennsylvania Credit Union Association trade group. More than 3.3 million state residents belong to one.
Many Lehigh Valley credit unions said profits sagged in the first six months of this ...