Credit unions earned $2.7 billion during the second quarter, a 10.7% gain propelled by strong growth in members, fees and net interest income.
An analysis of NCUA data by CU Times shows credit unions were able to compensate for a slowdown in real estate lending with an increase in other originations.
For the three months ending June 30, credit unions granted $125.3 billion in loans, 7.1% more than the volume for 2016's second quarter. Real estate originations grew 3.7% to $45.2 billion, while other types of loans granted grew 9.1% to $80 billion. Business loan volume grew 28% to $55.3 million.
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.