Borrowers turned to credit unions for cars, motorcycles, boats, college and credit cards in March to an extent not seen in 16 years.
Credit unions held $393.7 million in consumer loans in March, up 14.1% from a year earlier, the Federal Reserve reported in its May 5 consumer credit report.
Credit unions' share of consumer loans was 10.48% in March, up from 10.38% in February and 9.75% in March 2016. It was the biggest share for credit unions since it stood at 10.5% in February 2001, President George W. Bush's first full month in the White House and the month that Ariel Sharon was elected prime minister of Israel.
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