Skip to main content

Credit Unions Set Record in Q1 Loan Originations

May 22, 2012

As reported by Callahan & Associates, loan originations have hit the highest ever volume recorded in the first quarter, according to data submitted by more than 7,000 credit unions. Callahan & Associates is a Washington, D.C.-based firm that delivers analysis of credit union quarterly performance through its proprietary software and financial publications. First mortgage and consumer loans helped fuel the strong origination growth, with credit unions recording the highest dollar volume of first mortgages originated in first quarter history. First mortgage originations totaled $26 billion through March 31, comprising about 36 percent of all originations. Reporting credit unions granted 160,746 first mortgage loans during Q1 with an average loan balance of $161,549. “Originations during the first three months of 2012 exceeded $72 billion, up 25.3 percent over the same time period last year,” said Jay Johnson, executive vice president of Callahan & Associates. “This year-over-year growth is significantly higher than the 13.3 percent recorded in 2011.” Consumer loan originations rose 16.6 percent to $39 billion, but posted a year-over-year decline as a percent of total originations. The overall record-breaking first quarter originations resulted in a 2.7 percent year-over-year increase in total loan balances outstanding, a positive reversal from the 0.9 percent decrease credit unions reported last year.
About the author
Published
May 22, 2012
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024