WASHINGTON – California's credit unions have seen their commercial lending activity skyrocket over the past four years.
Since 2002, commercial loans have increased 92% to $5 billion, according to data from CUNA. While banks continue to command the lead with $146.3 billion in loans, business lending in California for them has decreased 10.2% or $16.5 billion for the same time period.
According to separate data compiled by CUNA in 2004, the average member business loan for California CUs was $484,021, ranking it second by Alaska, which had an average MBL loan of $545,011.
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