Membership in Wis. credit unions is increasing

MILWAUKEE — Membership in Wisconsin's credit unions is increasing.

According to the state Department of Financial Institutions, there were almost 2.2 million members of state-chartered credit unions at the end of 2010 in Wisconsin. It's increased about 1 percent over the last year in Wisconsin and nationwide.

The Milwaukee Journal Sentinel reports (http://bit.ly/lfzAjO ) deposits increased about 6 percent to nearly $18 billion at Wisconsin's 220 credit unions in 2010. In the first quarter of 2011, Wisconsin credit union deposits grew to $18.6 billion.

Deposits at banks chartered in Wisconsin declined almost 1 percent in 2010 to $116.9 billion.

Greg McBride, senior financial analyst for Bankrate.com, says one reason for the growth in membership is that so-called fields of membership have been expanded. He also says people are fed up with bank fees.