investments and quarterly growth graphic Source: Callahan’s Peer-to-Peer Analytics

Credit union balance sheets realized record share growth throughout the pandemic, mainly driven by government relief programs and increased saving rates during quarantines. Despite record mortgage loan originations, loan balance growth slowed through a combination of early repayments and credit unions selling low-interest loans to secondary market buyers.

In the first half of 2022 however, these trends have turned. After annual loan growth outpaced deposit growth in the first quarter of the year, all eyes were on whether this trend would continue. The mid-year numbers didn’t disappoint, with credit union loan balances growing 16.2% on an annual basis, almost doubling the 8.2% rate for shares. Of course, this meant credit union assets flooded out of investments – mostly excess cash balances – and into loans.

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?

 

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.