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|
Source: Peer-to-Peer Analytics by Callahan & Associates