Credit unions earned $2.7 billion during the second quarter, a 10.7% gain propelled by strong growth in members, fees and net interest income.
An analysis of NCUA data by CU Times shows credit unions were able to compensate for a slowdown in real estate lending with an increase in other originations.
For the three months ending June 30, credit unions granted $125.3 billion in loans, 7.1% more than the volume for 2016's second quarter. Real estate originations grew 3.7% to $45.2 billion, while other types of loans granted grew 9.1% to $80 billion. Business loan volume grew 28% to $55.3 million.
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