WASHINGTON—2015 will most likely close with another quarter of double-digit loan growth, according to Callahan & Associates’ FirstLook program, which includes data from more than 85% of credit unions.
Fourth quarter 2015 will mark the seventh consecutive quarter with loan growth topping 10%, the company said.
Callahan’s is projecting that year-over-year loan growth for the past year will be up 10.6% at the end of the calendar year 2015.
“While total loan growth is up 23 basis points from the same time last year, some categories are starting to slow,” the analysis found. “Year-over-year growth of total auto loans, credit cards, and student loans decreased 1.7, 1.7, and 8.5 percentage points, respectively, from December 2014 to December 2015.”
The major lending categories, first mortgage and auto, both topped 10% year-over-year growth at 10.4% and 14%, respectively, Callahan’s said, adding that once again, new auto led all categories with 16% year-over-year.
Other key areas of focus — asset, share, and member growth — were also strong at the end of the year, at 7.5%, 7%, and 3.7%, respectively, all growing faster than as of year-end 2014.