Lending growth highlighted CUNA’s May Monthly Credit Union Estimates as the beneficial effects of recent U.S. labor market improvement were reflected in gains in consumer spending and borrowing, according to CUNA economists.
Total credit union memberships grew to 108.4 million in September, according to CUNA’s monthly credit union estimates. Perc Pineda, senior economist for CUNA, said it was another good month for credit unions.
Overall credit union financial performance was consistent with positive U.S. economic data in April, according to the CUNA monthly credit union estimates. Credit unions continue to contribute to the expansion of the U.S. economy.
Credit unions continued a trend of broad overall growth in March, according to the CUNA monthly credit union estimates, with savings, loans, assets and memberships exceeding the first quarter's forecast from CUNA economists.
MADISON, Wis. (2/3/16)--For the second straight year, credit unions notched a 10.2% increase in loan growth in 2015, putting total loans outstanding at the $800 billion benchmark, according to CUNA's December credit union monthly estimates. Aside from last year’s performance, it’s the fastest pace of growth since 2005.
Memberships and loans outstanding continue to rise at credit unions nationwide, but savings balances have been particularly strong of late, according to CUNA’s monthly credit union estimates for October.