Improvements in members’ ability and willingness to borrow will likely fuel bank loan growth into 2019. But where will growth likely occur?
Mortgages, auto loans, and member business lending are likely to be probably the most promising regions of growth.
At midyear 2019, first mortgages taken into account 41% of total bank loans outstanding, making it the biggest (undoubtedly) of the seven key portfolios CUNA tracks.
Credit union first mortgages outstanding increased 8.7% in 2019, 9.1% in 2019, and 9.6% around ending June 2019.