Opinions sometimes differed, but experts told Credit Union Times they agreed that despite continuing challenges posed by regulators and the economy, America's credit union movement has an excellent prognosis.
"From the data we are seeing, the financial health of credit unions is quite strong," said Dennis Dollar, principal partner for Dollar Associates LLC in Birmingham, Ala. "It's not without challenges going forward, but we're in a strong position at the halfway point of 2013."
Dollar pointed to increases in lending and non-interest income revenue, both of which have improved over the past few years. Loan growth improved during the past nine consecutive quarters, with increases over last year of 5.6% in first mortgages, 10.7% in new auto loans, 9.3% in used auto loans and 8.3% in member business lending, according to NCUA call reports and other sources.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
