OMAHA, Neb. (12/22/14)--Nebraska credit unions performed well in a number of areas of growth in the first three quarters of the year, the Nebraska Credit Union League reported last week, with loan, membership and net worth growth all advancing.
The total dollar amount for all loans made by Nebraska credit unions between January and September climbed 2.2% compared with the dollar amount for the first nine months of 2013.
Further, all loan categories recorded increases in growth in September compared with their year-ago levels, with loan growth averaging 10.7% for new-auto loans and 3.6% for other real estate loans.
All loans increased to $2.6 billion in September, an 8.9% jump year-over-year.
"The positive results are not surprising and underscore the enduring value of our cooperative principles of participation and patronage," said J. Scott Sullivan, league president/CEO. "The ultimate goal of credit unions has and continues to be to serve consumers rather than view them as a source of profit. This not-for-profit, member-owned model is proving to be increasingly popular with Nebraskans."
Additional highlights from the data:
Earlier this month, the National Credit Union Administration reported that credit unions nationwide experienced strong numbers in the third quarter as well.
The median growth rate for loans outstanding climbed to 3.5% for the 12 months ending in the third quarter, a 1.8% increase from the year ending Sept. 30, 2013.