While in some respects credit unions are “turning the corner,’’  there are troubling trends as well, including not enough auto loans and too many low-rate first mortgages, according to a letter from the NCUA to credit unions.

“Growth in low-rate first mortgages continues to far exceed growth in overall loans. Credit unions holding high concentrations of long-term fixed-rate loans will be subject to negative margins when interest rates rise and short-term funding costs exceed income from fixed-rate mortgages.

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