Delinquencies

The most recent Credit Union Trends Report from CUNA Mutual Group is “indicative that both the credit cycle and the U.S. business cycle are moving into their last stage before the next economic slowdown,” according to one economist.

Credit unions reported gains in a number of key areas but member business lending and new auto loans took a hit as overall growth continued to slow.

William Mellin will serve as a lending institution representative on the task force, which will evaluate the evolution of the taxi medallion industry.

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A recent investigation found that institutions taken over by the National Credit Union Administration “are often the least willing to work with borrowers struggling to afford their loans.”

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

Membership continues to rise across the Wolverine State, though at a slower pace, but lending overall is on the decline.

Credit unions reported gains in areas such as loan balances and membership but it was at a slower pace than a year earlier.

A $19.1 billion aid package signed into law earlier this month is welcome news for credit unions in Nebraska and a host of other regions that have suffered from recent natural disasters.

Median annual membership growth stood at just 2% at the end of the first quarter, though delinquencies dropped and ROA got a boost.