ONTARIO, Calif. (9/10/15)--There’s no doubt about it. Serving more than 10 million members and employing 27,900 individuals, California and Nevada credit unions have made an economic impact on their local communities, said the California and Nevada Credit Union Leagues.

The leagues cited second-quarter 2015 data released by the National Credit Union Administration.

Membership in the 375 credit unions in the two states grew an aggregate 4%, with roughly 413,000 new members, from June 2014 to June 2015, adding to the momentum credit unions have experienced as the economy shifts from recovery to more normal growth, the leagues said.

By the end of the second quarter, California credit unions:

• Loaned out about $85.8 billion within the local community, a year-over-year increase of 14.2%;
   
• Experienced increases of 11.8% in first mortgages/home equity lines of credit (HELOC); 6.8% in business loans; 36.3% in new-auto loans; 16.9% in used-auto loans; and 6.4% in credit card lending;
   
• Held deposits totaling $132 billion into members’ accounts, a 6.7% increase;
   
• Spent an estimated $12.96 billion year-over-year (based on quarterly data) on employees and operations, including payroll, benefits, property, office equipment, occupancy and vendor contracts; and
   
• Increased their workforce by 4%, with 26,856 individuals employed.

In Nevada, credit unions during the period:

• Loaned out about $2.07 billion within the local community, a 10.7% year-over-year increase;
   
• Experienced increases (for Southern Nevada credit unions) of 1.9% for first mortgages/HELOCs; 21.1% for new-auto loans; 27.5% for used-auto loans; and 14.6% for credit cards;
   
• Experienced increases (for Northern Nevada credit unions) of 19.1% for first mortgages/HELOCs; 63.2% for business loans; 12% for new-auto loans; 10.8% for used-auto loans; and 92% for credit cards;
   
• Held $3.57 billion in deposits, a 5% year-over-year increase;
   
• Spent  an estimated $474 million on employees and operations; and
   
• Increased their workforce by 3.4%, employing 1,061 individuals.