A report from the Washington-based consulting firm Callahan & Associates projected credit union share portfolios grew 7% year over year as of December 2015.
The firm reiterated its earlier projections that loan growth is set to exceed 10% for the same period, according to a FirstLook program report for which more than 6,000 credit unions were analyzed.
Additionally, the report revealed core deposits (regular shares, share drafts and money market shares) continued to be the primary drivers of growth in credit union share portfolios.
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Every portion of the share portfolios posted improvements from the previous year, with double digit growth in two of the three components of core deposits, according to the report. Share drafts led the core deposit category with year over year growth of 14.3%, while Callahan reported regular share growth, at 10.1% for the same period, came in second.
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