ARLINGTON, Va.—Credit unions saw share growth reach its highest level on record in the second quarter, according to NAFCU's latest Industry Trends Report.
As CUToday.info recently reported, CUNA shared similar findings, saying the deposit numbers haven’t been seen in 30 years of tracking data.
In addition, loan growth remained stable amid the first few months of the coronavirus pandemic, bolstered by first mortgage real estate loans, NAFCU reported.
Of note, first mortgage loan originations over the past four quarters are up nearly 80% from the prior four quarters.
Other key data from NAFCU's trends report:
- Net interest margins are plummeting due to a combination of surging asset growth, low interest rates, and low non-real estate loan demand
- While banks' delinquencies are on the rise, that is not yet the case among federally-insured credit unions
- ROA continued to drop in the second quarter for all regions and asset peers
- The Southern region saw growth in auto loan balances, while other regions saw decreases