X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Credit unions are increasingly building member business lending programs and reaching out to provide business services to the small business market, but the latest Trendwatch data from Callahan & Associates shows there’s still plenty of room for more credit unions to get involved. Credit unions member business loans in 2002 topped $7.4 billion, which was more than a 57% increase since 2000, according to Callahan & Associates. But while member business loans are growing and credit unions are more likely to offer MBLs than before, these loans still only accounted for 2.1% of credit unions’ outstanding loans at yearend 2002. “This indicates this is a good area for expansion in the industry,” said Jay Johnson, executive vice president of Callahan. Over 1,600 credit unions now offer MBLs, and not surprisingly because of the infrastructure that’s needed to support member business lending services, the larger credit unions are more likely to offer MBLs than smaller CUs. Callahan & Associates data shows that over half of credit unions with more than $100 million in assets offer MBLs. By the end of 2002, these credit unions held over $6.3 billion in MBLs, representing 85% of the credit union industry’s total outstanding loans. The next largest group of credit unions – those with $50-$100 million in assets – only had about $500 million in MBLs last year. The numbers continue to shrink with decreasing asset sizes. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.