As of June 2013, 31.2% of credit unions nationwide offered member business loans to their members, up 1.9 percentage points from 29.3% reported in the previous June. Such large increase illustrates the rising importance of small business lending at credit unions. Outstanding member business loan balances totaled $38.6 billion as of June 2013, a 10.4% increase from the June 2012 level. Member business loans were the second fastest growing segment of the loan portfolio, topped only by new auto loans.
Except credit unions under $2 million in assets, every asset-based peer group posted an increase in the percent of credit unions offering member business loans. The largest increase was posted by the credit unions between $100 million and $250 million in assets. This peer group reported that 68.35% of the credit unions have outstanding member business loans on their book as of June 2013, a 461-basis-points increase from the rate reported a year ago.
PERCENT OF CREDIT UNIONS OFFERING MEMBER BUSINESS LOANS
Data as of June 30, 2013 For All Credit Unions
Callahan & Associates | www.creditunions.com
Source: Callahan & Associates Peer-to-Peer Analytics
Callahan & Associates 2014 Directory