At the end of 2010, credit unions were staking their claim to more mortgage market share and increasing delinquency at the same time. The 5.4% market share reported at December 31 represented a record level for cooperatives. Not only were credit unions making their presence felt in the mortgage market but they were also making better loans. Delinquency at 4Q10 was 1.76%, which was down significantly from the highs seen at the end of 2009.
Credit unions ended 2010 with substantial momentum. Now, as first quarter 2011 data trickles in, it is clear credit unions have had considerable success in the first three months of the new year. Loan volume is up, earnings are at higher levels, and asset quality is continuing its ascent.