As the economy recovers, lending is picking up speed at credit unions. Loan originations in the first six months of 2013 are surpassing the record numbers set in 2012, with loan originations projected to increase over 11% from year-to-date numbers in June 2012.
Virginia credit unions led the nation in loan originations per employee in the second quarter, with each employee originating just over $3.0 million in loans on average, according to Callahan & Associates’ FirstLook data.
When Navy FCU is excluded due to their size, Virginia credit unions still come out on top with $2.3 million in originations. North Dakota, which is feeling the effects of a booming population, originated nearly $2.1 million in loans per employee. Credit unions in the Green Mountain state of Vermont rounded out the top three with $1.9 million in originations per employee.
Roll over the states below to see their loan originations per employee and their average asset size.
LOAN ORIGINATIONS PER EMPLOYEE BY STATE
Data as of June 30, 2013 for All Credit Unions in the U.S.
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Generated by Callahan & Associates' Peer-to-Peer Analytics