OMAHA, Neb. (3/23/15)--Double-digit increases in auto-loan growth fueled a solid 2014 for Nebraska's credit unions, according to National Credit Union Administration Numbers reported by the Nebraska Credit Union League.
New auto-loans climbed by 10.7% on an annual basis in the fourth quarter, while used-auto loans surged by 9.4%.
Total loan assets rose by 8.3% to $2.7 billion on a year-over-year basis in the quarter.
"The strength of Nebraska's economy and consumer confidence is evident in the strong lending performance posted by Nebraska credit unions," said league President/CEO J. Scott Sullivan. "After several years of savings growth leading the way, lending is now driving credit union results."
Nebraska's credit unions originated roughly $1.36 billion in loans in 2014, a slight decrease of 1.4%. But increases in consumer, member business and other real estate loan originations helped offset the 15.9% decline in first-mortgage originations, the league said.
Credit unions in Nebraska also saw their loan-to-share ratios climb by 3.4% to 80.8%, as loan growth outpaced share growth by 4.5%.
Further, share balances rose by 3.9% on an annual basis, reaching $3.3 billion at year end in 2014. The increase was driven by regular shares and share drafts, according to the numbers.
Total memberships at Nebraska's credit unions jumped by 3.5% over the 12-month stretch to 472,446, just ahead of the 3.1% national pace. And the average member relationship, or the outstanding combined loan and share balances per member, rose by 1.9% annually to $12,349.