Federally-insured credit unions earned greater income from lending than they did from investments during Q1 2015, the NCUA reported Tuesday.
Total loans for the group reached $721.9 billion as of March 31, an increase of 1.3% from the previous quarter and 10.6% from the first quarter of 2014. Credit unions saw growth in almost every major loan category, the agency said.
Leading the pack, total first mortgage loans outstanding reached $297 billion, up 1.6% from the previous quarter and up 8.9% from the first quarter of 2014. Fixed-rate first mortgage loans made up 59.3% of the category.
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