Credit Unions Boost their Borrowings as Balance Sheets Gain Complexity

Low interest rates, the recent mortgage boom, and increasingly complex balance sheets led many credit unions to start borrowing from their corporate credit union or Federal Home Loan Bank over the past two years. The nation’s 9,570 credit unions increased their borrowings to $11.5 billion at year-end 2003, compared to just $4.9 billion at year-end 2001, a 52% annual increase.

 
 

Low interest rates, the recent mortgage boom, and increasingly complex balance sheets led many credit unions to start borrowing from their corporate credit union or Federal Home Loan Bank over the past two years. The nation’s 9,570 credit unions increased their borrowings to $11.5 billion at year-end 2003, compared to just $4.9 billion at year-end 2001, a 52% annual increase.

 

 

 

April 19, 2004


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