A study by TransUnion found that while auto lending by credit unions is still viewed as the top loan category for future growth, credit unions have a greater appetite for originating mortgages compared to the rest of the financial services industry.
According to TransUnion, the share of all mortgage originations by credit unions has increased from 7 percent in Q1 2013 to 11 percent in Q1 2015.
In addition, a survey of 90 credit union executives by TransUnion found that six in 10 respondents stated that mortgage originations (ranked in the top 3 loan products) were an area of growth/opportunity/focus for their credit unions in the next 12 months. This is up from 50 percent in the 2014 survey.
TransUnion also noted that credit unions experienced 25 percent growth in non-prime mortgage originations in Q1 2015 compared to 4 percent for the rest of the industry.
Read the press release.
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