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Jim covers economic data trends emerging for credit unions, as well as branch news and dividends.
HMDA data shows the 15-year limit was regularly exceeded by credit unions for first mortgages, which is allowed by the NCUA for eventual retirement homes.
Its latest forecast calls for new car sales to fall 0.6% and used car sales to rise 2%.
The big questions are: Where are the borrowers? And, who are getting the loans?
With mortgage rates remaining high and demand weakening, home sales are likely to show little change.
MBA forecast lowers its expectations for growth in purchase originations significantly over next 30 months.
Balances grew more than twice as fast at credit unions than at banks and investors from Dec. 31 to March 31.
NCUA data shows a net loss of 32 branches in the first quarter — the biggest drop since the fourth quarter of 2021.
But an Experian report shows banks gain even more in the first quarter as captives’ share shrinks.
First Community CU’s sale of securities backed by auto loans is the first for credit unions this year.
But some cut their workforces significantly with layoffs and attrition.