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After recent upswings of record growth, member business lending activity continues to slow down in large part because of the drag on the economy.

Year-to-date, MBL portfolios are up just 1.7%, according to the October issue of CUNA Mutual Group’s “Credit Union Trends Report.” Revised data indicated that MBL growth slowed to 7% at the end of August. Annual growth was 33.6% in 2005 and while still respectable, continued to drop in 2006 to 23.4% and even further in 2007 to 17.2%. The credit union industry experienced 18% MBL growth in 2008.

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