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As Banks Brake, Credit Unions Gain Bigger Share of Auto Loans

CUNA Mutual Group's new report shows new cars and member business loans led CU growth in April.

By Jim DuPlessis | Updated on June 22, 2017

Credit union lending rose 11.8% in April with new car loans and member business loans growing twice as fast as other sectors, CUNA Mutual Group reported Thursday.

Real estate grew at a slower pace as higher interest rates discouraged refinancing and purchase loans and home equity lines of credit have not risen enough to make up for the difference. As a result, real estate’s share of the $921.4 billion in total loans on the books April 30 fell by a percentage point to 49%.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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