Credit unions increased their holdings of commercial loans backed by real estate from March to June at a rate faster than the first quarter and nearly four times faster than the rest of the nation.
A report from the Mortgage Bankers Association released Sept. 19 showed banks, insurance companies and other investors held $4.69 trillion in commercial real estate loans on June 30, up 0.7% from March 31.
NCUA data showed the $154.7 billion in commercial real estate loans held by credit unions on June 30 was up 10.8% from a year ago and up 2.7% from March 31. The loans were held by only 1,642 of the nation's 4,631 credit unions and represented 3.3% of the nation's total.
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