Northwest CUs Leading Nationwide Loan Growth Following NCUA Third Quarter Report

Graphic courtesy of NCUA.

Northwest credit union lending continues to stand out nationally, with third quarter state-level data released by NCUA this week.

Washington credit unions led the pack with the highest median growth rates for lending at 9.7 percent in the third quarter. Many Washington credit unions show strong year-over-year loan growth, as well, according to NWCUA AVP of Regulatory Advocacy John Trull, with America’s CU, Blue Mountain CU, Olympia CU, and American Lake CU all at 30 percent growth or higher.

Oregon credit unions came in just behind Washington in highest median loan growth rates (8.1 percent), and counted similar strong growth in year-over-year totals.

“Indirect lending has been key for credit unions like Oregonians Credit Union, which has seen 1,200 percent auto loan growth, while others such as First Community Credit Union posted 43 percent real estate loan growth, and Old West Credit Union posted a 38 percent growth in business lending,” Trull said.

Both states also led the way in asset growth.

According to additional analysis by CU Today, Idaho paced the nation in highest media loans-to-shares ratios.

The numbers were released as part of the NCUA Quarterly U.S. Map Review, available online here, which tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia. The review also includes information on two important state-level economic indicators: unemployment rates and home price changes.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.

Posted in NWCUA.