The lowest interest rates in a generation slowed deposit growth at credit unions in the first half but spurred borrowing, according to a credit union consulting firm.

Deposits at the nation's 12.912 credit unions totaled $248.7 billion on June 30, only 6.6% more than a year earlier, after a 9.6% increase in the previous 12 months, according to Callahan & Associates, a Washington-based credit union consulting research firm.

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