Strong Loan Growth At CUs

Register now

MADISON, Wis. - (12/02/04) -- Loan growth continued to be strongat credit union in October, according to CUNA. Loans expanded by0.6% during October, pushing year-to-date loan growth to 9.2%, thestrongest since 2000. Home equity loans led the way for the month,growing by 2.7%; while adustable-rate real estate loans grew by1.3% and new car loans by 1.1%. Unsecured personal loans,fixed-rate mortgages and credit card loans all declined during themonth. Share growth rebounded in October after two down months,rising to 1%. Share growth through the first 10 months of the yearwas 5.2%, down from 9.5% for the same period last year, and thelowest since 2004.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER