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Aman Johal is an industry analyst at Callahan & Associates. His duties include helping the analyst team assess credit union industry performance data and contributing to CreditUnions.com and quarterly Callahan publications. Prior to his current position, Aman interned at Callahan on both the administrative and analyst teams, and at The Sharma Law Office, an immigration law practice. He graduated from The George Washington University with a double major in economics and mathematics and a minor in statistics.
Historically low rates to start the year has contributed to strong mortgage lending through March.
Decreased consumer spending and a pronounced pullback from indirect lending programs contributed to slower auto loan growth at credit unions in the first quarter of 2020.
Despite the Federal Reserve’s monetary policy pushing interests rates lower, credit unions are experiencing an influx of deposits as members look for safe channels to park their savings.
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Lower interest rates and overall economic uncertainty pushed the investment portfolios of commercial financial institutions nationwide toward shorter allocations in the first quarter of 2020.
Mortgage market share for U.S. credit unions increased 1.0 percentage point year-over-year to reach 9.0% as of March 31.