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Five can't-miss data points featured this week on CreditUnions.com.
The success of both the credit union and the member should increase as their relationship deepens over time.
Shorter-term rates have moved higher, but the bumps in the overnight rate have had little impact past the two-year note.
Auto loans, the second-largest component of the credit union loan portfolio, expanded 13.8% over the past 12 months.
Total revenue reached $15.5 billion in the first quarter of 2017. That’s up 8.1% year-over-year from the $14.3 billion credit unions posted in the first quarter of 2016.
With rising Federal Reserve rates and increased consumer confidence, the credit union industry posted positive year-over-year investment growth in the first quarter for the first time since 2013.
For the 10th consecutive quarter, credit unions increased share balances. Share balances increased a record-breaking 8.4% and neared $1.2 trillion in the first quarter of 2017.
Credit card lending is on the rise at the nation's credit unions.
Credit unions that participate in member business lending, a full 35.9% of the industry, posted 15.2% year-over-year growth, and total MBL balances hit a record high of $62.7 billion as of March 31, 2017.
First quarter 2017 marked the 11th consecutive quarter that credit unions have posted double-digit lending growth.
The benefits are endless!