Mortgages Drove Credit Union Loan Originations in Q1

The numbers for Q1 2021 have come in, and overall, credit unions saw strong growth in their loan portfolios! Credit Union Times reported in May that first-mortgage originations were the driving force for the loan growth this past quarter with a grand total of $75 billion, up 49% from Q1 2020.

While these numbers are promising, the Mortgage Bankers Association expects first-mortgage originations for all lenders this year to fall 14.2%. It’s still to early to say how the homebuying season will turn out this year, and first-time buyers are still navigating a tricky sellers’ market. Whether growth ultimately increases or declines, credit unions will need to remain vigilant for opportunities across all lending avenues during the second half of 2021.

Mortgages Drove Credit Union Loan Originations in Q1

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