WASHINGTON – Credit unions recorded their highest loan volume ever during the second quarter of 2012.
According to analysis by Callahan & Associates, the country’s CUs reported $84.5 billion in loan originations for the quarter ending June 30. Combined with first quarter originations, activity through the first six months of 2012 totaled $157 billion. “This shatters 2009’s standing record of $144.3 billion originated in the first six months of the year,” Callahan’s said.
Callahan’s noted that during the major refinance wave, which began in the first half of 2009, credit unions originated more than $55 billion in first mortgages. Credit unions originated more than $56 billion in first mortgages for the first six months of 2012 and captured 7.6% of the market.