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