A CU Times analysis of NCUA data showed the South emerged in the first quarter as the largest credit union producer of residential real estate loans, eclipsing the West.
Credit unions in the South, defined by the Census Bureau as stretching from Texas to Virginia, originated $26.3 billion in first mortgages, home equity lines of credit and other residential real estate loans in the three months ending March 31. That was up 20.5% from a year earlier.
The West, which had been leading in volume for years, originated $23.5 billion, down 11.8% from a year earlier and falling below volume for the South.
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