More than 5,500 credit unions representing nearly 95% of the industry’s assets are reporting in Callahan & Associates’ FirstLook program. And according to this preliminary data, credit unions are on track to post another record performance in the second quarter of 2015.
Credit unions have set a new bar for highest ever originations. Total loan originations increased 20.2% year-over year to reach $200 billion through June 30, 2015. Among major loan categories, year-to-date first mortgage originations increased at the fastest rate, up 49.2% from 12 months ago. Other real estate and consumer loan originations also posted double-digit growth of 16.4% and 10.2%, respectively.
Among all states, credit unions in the District of Columbia are leading the nation in YOY growth of total year-to-date loan originations. The 37 credit unions in DC for which Callahan & Associates has collected data have nearly doubled their YTD total loan originations versus the same period 12 months ago. These credit unions originated $871.9 million in loans, up from $448.7 million reported in 2014. Skyrocketing YOY growth in both first mortgage loan originations and consumer loan originations 90.1% and 90.3%, respectively has contributed to this impressive growth.
10 STATES WITH THE HIGHEST YTD LOAN ORIGINATION GROWTH
For 5,605 FirstLook credit unions | Data as of 06.30.15
Callahan & Associates | www.creditunions.com
| Rank | State | Number of FirstsLook Credit Unions Available | YOY Growth in YTD Loan Originations | $ YTD Loan Originations as of June 2014 | $ YTD Loan Originations as of June 2014 |
|---|---|---|---|---|---|
| 1 | DC | 37 | 94.31% | $871,877,843 | $448,695,127 |
| 2 | NV | 10 | 60.56% | $473,896,799 | $295,156,224 |
| 3 | CO | 72 | 48.84% | $3,439,067,464 | $2,310,640,411 |
| 4 | MD | 86 | 39.12% | $3,182,636,920 | $2,287,755,099 |
| 5 | IA | 96 | 36.06% | $3,265,835,707 | $2,400,265,082 |
| 6 | ID | 26 | 35.53% | $1,855,091,558 | $1,368,769,535 |
| 7 | RI | 18 | 35.04% | $706,020,610 | $522,820,209 |
| 8 | NH | 18 | 33.93% | $1,244,014,085 | $928,882,101 |
| 9 | VT | 20 | 33.00% | $473,750,568 | $356,190,406 |
| 10 | MN | 123 | 32.32% | $2,998,070,283 | $2,265,700,281 |
Source: Peer-to-Peer Analytics by Callahan & Associates
