HONOLULU (12/18/15)--Dennis Tanimoto. president of the Hawaii Credit Union League, recently told the Pacific Business News that the Aloha State is poised loan growth.
“Hawaii lags the Mainland,” Tanimoto told the Business News (Dec. 15). “Loan demand on the Mainland has been really picking up and we haven’t seen that. It’s starting to happen and I think it will really take off in 2016.”
The 2015 Hawaii Auto Outlook indicated Hawaii’s new vehicle market is on track for a 4.6% gain in 2015. 2016 will bring a 3.3% gain in new retail light vehicle registrations in 2016, according to the study.
Overall, credit unions will continue to see higher loan growth data for November and December and in 2016, according to Perc Pineda, CUNA senior economist, (News Now Dec. 4). “Auto demand is tied to jobs, and since January we have been adding 206,000 jobs per month on average,” Pineda said. “My sense is that the recent momentum in job creation will continue, and that should bring more lending activities in credit unions.”