Despite nine consecutive months of loan portfolio contraction, member business loans continue to be among those outpacing other credit union lending categories.
According to CUNA Mutual Group's December issue of Credit Union Trends Report, at $581 billion, total loans were down 1.6% over 2009. The report looked at data through October. Member business loans, used vehicle loans, and first mortgages were the only portfolios in positive territory.
NCUA call report data revealed 58% of all credit unions reported loan portfolio declines between the third quarter of 2009 and the third quarter of 2010, the trends report noted. These credit unions hold 55% of industry assets.
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