laptop with "loan approved" on screen Source: AdobeStock

After experiencing explosive commercial loan growth in 2022, the pace of new loan originations is moderating throughout the industry on a national basis. In aggregate, credit unions funded more than $52 billion in commercial loans in 2022, a 25% increase over the previous year. Commercial loan balances increased by over 19% in 2022.

Whether it is the increasing rate environment, uncertain economic times or tightening liquidity, credit unions and business members face a much tougher lending environment in 2023 than they have seen in quite a while.

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