Credit union lending continued to grow at a slower pace in June than any month in more than four years, and in the territory of growth rates in the two years before the Great Recession.
CUNA's Monthly Credit Union Estimates report showed the nation's 5,529 credit unions held $1.09 trillion in loans June 30, up 6.3% from a year earlier.
Twelve-month growth rates continued to decline for the two main portfolio sectors: car loans, which account for about 35% of total loans, and real estate, which accounts for about half of loans.
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