ARLINGTON, Va.—Credit unions' loan growth remains exceptionally high, as it has for several consecutive years, according to NAFCU's third-quarter CU Industry Trends
report.
Of note, Illinois has the strongest year-over-year loan growth at 21%. In addition, the report showed that membership growth continues to strengthen, but share growth has declined in 2018.
"The credit union industry continues to show strong member growth and solid loan performance," said NAFCU Chief Economist and Vice President of Research Curt Long. "But credit unions are feeling the effects of sagging consumer loan demand, as origination growth has declined. With signs that the economy may slow next year, the urgency for impactful regulatory relief measures is growing."
As CUToday.info reported, NCUA recently released its third-quarter data on the credit union industry, showing that federally insured credit unions' membership exceeded 115 million and assets grew 5.6%, year over year.