The industry continued to post double-digit loan growth rates in the third quarter of 2017. Seventy percent of credit unions reported positive year-over-year loan growth, with the median loan growth at 4.9%.
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Auto loans expanded 12.4% annually for credit unions nationally. That’s 6.2 percentage points higher than the median auto growth rate of 6.2%.
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Sales to the secondary market dropped 8.9% compared to the same period last year and fell from $41.6 billion to $37.9 billion. Credit unions with more than $1 billion in assets sold the largest portion of their first mortgage originations, 37.1%. By comparison, credit unions with $50 million to $100 million in assets sold 18.4%.
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As of Sept. 30, 2017, credit card delinquency for the industry was up 19 basis points from the third quarter of 2016. This was a continuation of a recent upward trend.
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The lending data from this article was pulled using Callahan’s analytics software. Learn how it can help your credit union.
Member commercial loan balances in the third quarter totaled $54.5 billion. The average balance was $283,200.
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