Credit unions turned in an outstanding performance in 2009, with record balance sheet growth and record market share levels. But slowing loan demand and increased competition present challenges in 2010.
Highlights at the end of March include:
- Assets increase 4.7% over the last twelve months to $909.8B
- Credit unions began the year strong, originating $51.8B in loans during the first quarter of 2010
- Credit unions are selling more than half of their total first mortgage originations to the secondary market. Total secondary market sales in the first quarter were $7.9B
- Share balances increased 6.6% over the last 12 months
- Total membership rose 1.0% to 91.5M as increased awareness of the credit union industry brings in new members
- The net worth to assets ratio stands at 9.9% as of March
To read about these key statistics and more, download a copy of Callahan’s Quarterly Report: 1Q 2010.