Credit unions in California reported $5.3 billion member business loans outstanding as of March 2013, which was the largest among all states. The growth in member business loans at credit unions in California is attributed to a rise in local leisure & hospitality industry, where a majority of opportunities lie for small business start-ups. Credit unions in New York and Wisconsin rounded out the top three with $4.8 billion and $2.3 billion member business loans outstanding, respectively. Credit unions at Delaware posted the largest percent growth over the past year with 159.3%, jumping from $3.8 million to $9.5 million in member business loans outstanding.
The industry’s total amount of member business loans outstanding equaled $37.5 billion as of March 2013, up 9.9% from $34.1 billion in the same quarter of 2012. 43 states posted positive growth in member business loans from last year due to rising economy and the NCUA’s low-income designation regulation which provided more capacity for credit unions making member business loans.
Roll over states to see the amounts of member business loans outstanding as of March 2013 and March 2012 and their percent changes.
LEADERS IN MEMBER BUINESS LOANS OUTSTANDING
Data As of March 31, 2013
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