More loans. It's the battle cry of almost every credit union in America, if not all of them.
Thankfully, loan growth is the strongest it's been since the financial crisis. Equifax announced Aug. 29 that credit card balances increased year-over-year for the first time in five years. Auto financing, student loans and purchase mortgages are showing promise.
And the NCUA reported Aug. 29 that loans were up 2.3% in the second quarter. Outstanding loan balances have increased by 5.5% during the last four quarters, the strongest 12-month growth since the start of 2009.
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