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Expanding electronic services is another way credit unions provide more convenience and value for their members. Which institutions lead the way in online banking usage?
Since year-end 2017, credit unions have gone from financing 19.7% of auto loans on the market to 20.5%.
Commercial loans comprised 6.9% of the total lending portfolio at U.S. credit unions, an increase of 19 basis points from the same time last year.
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Cash and investments at credit unions was down at year-end 2018 as credit unions reallocated funds to fulfill loan demand.
First mortgages added $36.3 billion to the total loan portfolio in 2018.
Delinquency in this portfolio remains the highest for any major credit union loan product.
Loan origination growth outpaced employee growth, pushing originations per employee $16,000 higher than one year ago.
Credit unions reaped the benefits of upward rate movement and the associated repricing benefits for new loan originations in 2018.
More Americans are turning to credit unions and their member-focused, non-profit financial model.
How many credit unions offer a convenient and valuable experience that doesn't require stepping foot into a physical branch?