The Filene Research Institute has published a report thatprofiles those credit unions that were able to grow their loanportfolios during the past few years.
|In the report, Superior Consumer Lenders During the GreatRecession, several common strengths emerged among the 12credit unions featured. Among them: consistent underwriting, afocus on improving sales culture and an emphasis onrefinancing.
|According to Filene, the Great Recession turned the flow of U.S. consumerlendingto a trickle, and the opportunities that remained required a lot ofwork.
|Only 23 out of more than 2,200 U.S. credit unions larger than$50 million grew their new and used auto loan portfolios by more than 5% each year between 2008 and2010, and only 11 of those also grew their credit card portfolios by 5%.
|Filene said its researchers conducted qualitative interviewswith 12 of the 23 credit unions, many of them hailing from theMidwest and Texas.
|The lending report was supported by a grant from CUNA MutualGroup, according to Filene.
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