Chart showing income rose for the top 10 credit unions in the U.S.

Results for the 10 largest credit unions showed that the mortgage boom that was the pillar of the 2020 economy might be cresting.

A CU Times analysis of NCUA Call Reports posted in late January showed total loan originations by the Top 10 rose 11.7% to $38.7 billion for the fourth quarter. However, the growth was slower than the 17% year-ago gain for the third quarter and the volume was 2% lower than third-quarter originations.

Real estate was a major part of that. Despite a 21.8% gain from the fourth quarter of 2019 to the fourth quarter of 2020, it was the weakest year-ago comparison for any quarter in 2020 and the $15.1 billion in volume marked a decline from the third quarter. The size of the gains has been dropping steadily since the 82% gain in 2020′s first quarter.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2023 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.

Jim DuPlessis

A journalist for decades.

More from this author

Dig Deeper

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.