ARLINGTON, Va.—Credit unions remain focused on providing loans to small businesses, but overall loan growth has weakened considerably, according to NAFCU's second-quarter CU Industry Trends report.
"Loan growth is slowing across the industry," said NAFCU Chief Economist and Vice President of Research Curt Long. "Some of that is likely the result of weaker demand as the economic expansion ages and as nervousness about the strength of the economy grows. Loan performance is still solid, and credit unions are in a strong capital position."
Other key data from the trends report:
- ROA has improved mildly in 2019 as a result of improved net interest margins
- Share growth is rising among credit unions with over $500 million in assets
- Illinois, Nebraska, and Arizona saw the highest member growth
- Nevada, Idaho, and Utah saw the highest ROA