More credit unions are becoming more active in the business lending activities, with low-income designation providing additional capacity for credit unions to make business loans. Credit unions nationwide, on average, reported a 10.3% 12-month growth in member business loans outstanding as of June 2013, up 201 basis points from one year ago. Total member business loan balances at credit unions reached $38.6 billion. The average member business loan balance stood at $202,434 in the second quarter of 2013, an annual increase of 2.1%.
Among credit unions over $20 million in assets with at least $2 million member business loans outstanding at June 2013 and $1 million outstanding at June 2012, Keypoint ($805.2M, Santa Clara, CA) posted the highest organic growth in member business loans over the past year. The credit union’s member business loans outstanding increased more than ten-fold annually to reach $21.5 million as of June 2013. Lamoure ($23.5M, Lamoure, ND) ranked sixth with a 340.8% annual growth in member business loans, which comprise nearly half of its loan portfolio as of second quarter.
LEADERS IN 12-MONTH MEMBER BUSINESS LOAN GROWTH
Data as of June 30, 2013 For Credit Unions Over $20M In Assets With At Least $2M Outstanding at June 2013 and $1M Outstanding at June 2012 | Excluding Significant Mergers
© Callahan & Associates | www.creditunions.com
|
|
Credit Union |
State |
12-Month MBL Growth |
Total MBL Outstanding as of June 2013 |
MBL Concentration |
Total Assets |
|
1 |
KEYPOINT |
CA |
1033.48% |
$21,499,958 |
3.66% |
$805,216,069 |
|
2 |
WASHINGTON STATE EMPLOYEES |
WA |
741.13% |
$15,584,986 |
1.38% |
$1,865,790,761 |
|
3 |
NORTHWEST |
VA |
398.49% |
$67,303,604 |
6.26% |
$2,568,322,925 |
|
4 |
FREEDOM FIRST |
VA |
356.76% |
$8,214,163 |
3.38% |
$311,386,237 |
|
5 |
NUTMEG STATE |
CT |
355.87% |
$8,121,408 |
3.37% |
$356,686,618 |
|
6 |
LAMOURE |
ND |
340.82% |
$7,602,192 |
46.68% |
$23,548,322 |
|
7 |
ALABAMA TELCO |
AL |
331.79% |
$8,659,931 |
2.48% |
$606,398,895 |
|
8 |
DOVER |
DE |
323.00% |
$7,369,946 |
4.81% |
$401,561,221 |
|
9 |
ALLIANT |
IL |
317.41% |
$105,769,205 |
3.23% |
$8,225,494,884 |
|
10 |
SERVICE |
NH |
277.40% |
$13,408,480 |
0.89% |
$2,327,737,600 |
Source: Callahan & Associates’ Peer-to-Peer Analytics
Callahan & Associates’ 2014 Directory