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Loan growth continues for credit unions (Image: Shutterstock).

Credit union loan growth topped 10% in October, as lending for automobiles remained in the double digits and first mortgages and credit cards continued their steady gains.

CUNA estimates released last week showed credit unions held $1.06 trillion in their loan portfolios Oct. 31, up 10.3% from a year earlier. It was the first time 12-month growth has topped 10% since December 2017. Total loan growth was 10% in 2017 and 10.4% for the previous three years.

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Jim DuPlessis

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