Loan Originations Hit Another Record High In Second Quarter

Total YTD loan originations at U.S. credit unions grew 20% year-over-year to reach $200 billion through the first six months of 2015, an increase of more than $30 billion over the same time period last year.

 
 

More than 5,500 credit unions representing nearly 95% of the industry’s assets are reporting in Callahan & Associates’ FirstLook program. And according to this preliminary data, credit unions are on track to post another record performance in the second quarter of 2015.

Credit unions have set a new bar for highest ever originations. Total loan originations increased 20.2% year-over year to reach $200 billion through June 30, 2015. Among major loan categories, year-to-date first mortgage originations increased at the fastest rate, up 49.2% from 12 months ago. Other real estate and consumer loan originations also posted double-digit growth of 16.4% and 10.2%, respectively.

Among all states, credit unions in the District of Columbia are leading the nation in YOY growth of total year-to-date loan originations. The 37 credit unions in DC for which Callahan & Associates has collected data have nearly doubled their YTD total loan originations versus the same period 12 months ago. These credit unions originated $871.9 million in loans, up from $448.7 million reported in 2014. Skyrocketing YOY growth in both first mortgage loan originations and consumer loan originations — 90.1% and 90.3%, respectively — has contributed to this impressive growth.

10 STATES WITH THE HIGHEST YTD LOAN ORIGINATION GROWTH
For 5,605 FirstLook credit unions | Data as of 06.30.15
© Callahan & Associates | www.creditunions.com

Rank State Number of FirstsLook Credit Unions Available YOY Growth in YTD Loan Originations $ YTD Loan Originations as of June 2014 $ YTD Loan Originations as of June 2014
1 DC 37 94.31% $871,877,843 $448,695,127
2 NV 10 60.56% $473,896,799 $295,156,224
3 CO 72 48.84% $3,439,067,464 $2,310,640,411
4 MD 86 39.12% $3,182,636,920 $2,287,755,099
5 IA 96 36.06% $3,265,835,707 $2,400,265,082
6 ID 26 35.53% $1,855,091,558 $1,368,769,535
7 RI 18 35.04% $706,020,610 $522,820,209
8 NH 18 33.93% $1,244,014,085 $928,882,101
9 VT 20 33.00% $473,750,568 $356,190,406
10 MN 123 32.32% $2,998,070,283 $2,265,700,281

Source: Peer-to-Peer Analytics by Callahan & Associates 

 
 

Aug. 11, 2015


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