ATLANTA–Georgia's 136 credit unions experienced continued loan growth in the third quarter of 2014, enjoying the highest third quarter jump in more than a decade, according to data released by Georgia CU Affiliates.
As has been the case in most states, automobile lending maintained its position as the top-performing loan category among Georgia’s credit unions, while unsecured loans and first mortgage loans were also up in the third quarter.
The GCUA cited figures showing the current average rate on a four-year used vehicle loan at a Georgia credit union is 1.01 percentage points lower than average bank rates according to Informa Research Services. Overall, loans grew 4.2% during Q3.