Some might need convincing that home equity lending is still viable after its stall in the housing market during the Great Recession a few years ago.
Two credit unions that led the industry in growth over the past year by playing off rising home values in their areas and remaining remarkably stable through the downturn are proof that opportunities continue to emerge in the lending channel.
According to data analyzed by Callahan & Associates for CU Times, the $1.5 billion Michigan Schools and Government Credit Union grew its portfolio of home equity loans and lines of credit by 97% to end the period tracked at just over $690 million.
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