Callahan & Associates found that credit unions have generated $10.7 billion in noninterest income this year as of the third quarter–the highest amount reported since third-quarter 2009 and 18% more than the first nine months of 2011.
Credit unions generated $10.7 billion in noninterest income as of the end of the third quarter in 2012 — the highest nine-month total since 2009.
Third-quarter record adds to optimism for the year ahead.
Twelve-month membership growth increased during the third quarter, according to Callahan & Associates’ FirstLook data.
Second-quarter originations set pace for first six months to break 2009 record.
Executives from different parts of the credit union industry are hard at work to build credit unions’ share of the U.S. mortgage market even higher than the record 8% that credit union’s achieved in the first quarter of this year.
Callahan challenges industry to grow already-record 8% share to 20% by 2020; CUSO Mortgage Liquidity Solutions working on how.
Callahan & Associates is urging credit unions to push forward with housing finance programs and aim to write 20% of the nation's mortgage loans.
Callahan & Associates last week announced an expansion of ownership as part of an ongoing strategy to evolve, support and develop new opportunities in the credit union system.
Credit union consultant, analysis firm adds senior officers to ownership positions.