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Strong economic numbers for credit unions. Strong economic numbers for credit unions. (Source: Number1411/Shutterstock)

Credit unions again increased their loan portfolios at a higher rate than banks in 2019, but banks raced ahead in automobile lending.

At the end of 2019, credit unions held $1.14 trillion in loans, 6.6% more than Dec. 31, 2018. The increase continued a pattern of slowing loan growth – from December 2017 to December 2018 total loans grew 8.9%, according to the Credit Union Trends Report from CUNA Mutual Group of Madison, Wis.

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Jim DuPlessis

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