first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The steady, upward trajectory for credit union growth continues in membership numbers and lending–although opportunities exist, particularly in the housing market.The monthly credit union estimates from the Credit Union National Association (CUNA) show memberships are up 105.6 million in January from 105.3 million in December last year. Loan growth increased 0.64% for an annualized basis of 7.62%, cresting loan balances at $102 billion in January.“Our estimates are consistent with a macroeconomic theme we see this year, that is continued U.S. expansion–although under 3%,” said CUNA Senior Economist Perc Pineda. “We are confident that loan growth will reach our annual forecast of 9% this year. Recovery in housing however has been the slowest in history.”Adjustable mortgages led loan growth in January with an increase of 2.6%. Home equity loans ticked upward by 1.6%; however fixed-rate first mortgages slumped 1.3%. continue reading »last_img

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