Credit unions loans continued their decline in 2010, but credit unions made more loans for used cars, launched more credit card accounts and issued more first mortgage loans last year, according to NCUA.
The federal credit union regulator reported that loans for previously owned vehicles grew by 3.43% during 2010 and 0.2% in the last quarter. They also made first mortgage loans worth 2.69% more for the year and 0.7% in the fourth quarter and saw credit card balances increase by 3.1% for the year, a somewhat surprising ending as CU credit card lending declined by 2.9% in the first quarter of 2010.
However, overall CU loans declined 0.3% for the fourth quarter and 1.34% for the year, NCUA said.
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