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The number of credit unions making business loans declined about 9%. The table you show is CUs offering business loans, not whether or not they are actually making them; notice the difference. Further, this decline represents YTD MBL originations, which of course would be lower in 3Q compared to year-end. A more meaningful comparison will be available once 4Q09 data is available.
ReplyDeleteFurther, he is correct in that your statistics are wrong. However, I understand why the ABA is grasping a what few statistics is can pull together to trash credit union business lending. Perhaps if you would like Bill to have a slice of humble pie, you could cut him a slice of yours.
Compared to 3Q08, the number of credit unions that had originated at least one busienss loan YTD is down 1%. This is compared to the 3.4% decline in the total number of credit unions during the same period.
ReplyDeleteI'm not as familiar with the FDIC's QBP. Dr. Leggett, could you provide us with statistics on the change in number of banks making business loans? I'm going to guess that its down more than 1%, but I don't know for certain.