Commercial and multifamily mortgage delinquent loans were down for credit unions, banks and thrifts during the first quarter.
A 1.4% decline in loans outstanding in 2010, modest 1.2% increase in 2011 at credit unions linked to how members feel about economy, jobs.
If credit unions were looking for a lending panacea in 2011, it was nowhere to be found. It wasn’t for a lack of money to lend because many cooperatives were awash in funds, economists said over the course of the year.
When it comes to loan originations, it appears credit unions are seeing a glimmer of hope in their portfolios.