As first mortgages and refinancings flooded into credit unions
over the past year, some other credit union loan products fell behind.
New auto loan balances actually fell slightly over the last 12 months.
And while some credit unions did sell their portfolios, overall
credit card balances rose only 1%.
Member business lending has been the growth king for credit unions
since last June, with balances rising over 26% to $8.3 billion.
As of June 30, over 1,630 credit unions reported member business
loans on the books, with 228 credit unions starting programs over
the past year. These credit unions had, on average, $118 million
in assets, a 1.14% ROA, and $5 million in MBLs outstanding. The
higher balances ($111K on average), greater community visibility,
and improved relationships are all helping these credit unions increase
their returns and boost their member value.