Credit union loans grew in January at their fastest rate in 17 years, led again by loans for cars and businesses, according to a CUNA Mutual Group report released Tuesday.

Credit union loans grew 12.8% in January 2017, the highest seasonally-adjusted annualized rate since January 2000, according to the monthly Credit Union Trend Report.

Chief economist Steven Rick said the credit boom could extend into a fourth year of double-digit growth in 2017 because membership has been growing more than 3% a year for the past three years.

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Jim DuPlessis

A journalist for decades.

Credit Union Management
Lending