Total loans outstanding at federally insured credit unions increased to $823.4 billion during the second quarter of 2016, an increase of 10.5% from a year ago, the NCUA said Sept. 6.
At the same time, delinquencies rose in several loan categories, according to data based on the agency's call reports. The delinquency rate rose one basis point from last year and stood at 75 basis points, the agency said.
Year over year, loans grew in every major category, with new auto loans leading the pack, with a 15.6% increase, to $107.3 billion. Used auto loans increased 13.1%, to $173 billion.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
