FOR IMMEDIATE RELEASE
Wyoming, MN April 27, 2015. Current economic forecasts indicate that loan growth will continue for the rest of 2015 and 2016. CUNA’s Credit Union Trends Report indicates that in February 2015 credit unions increased their loan portfolios by .22% up from .11% in February 2014 and loan balances grew at a 10.9% annual pace. CUNA is predicting that loan growth should remain at about 10% for the next 2 years. A recent Wall Street Journal article cites that the overall consumer base is healthier due to a stronger economy and falling jobless rates. While a perfectly balanced loan portfolio is the ideal for lenders, it may not be the reality when consumers have more flexibility and more capacity to make purchases – wherever the terms are the best. In a competitive pricing environment credit requirements are often loosened, resulting in increased bad debt.
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