Reactions were positive from leaders of the industry's two national trade groups regarding the NCUA's second quarter aggregate call report data released Tuesday showing double-digit growth in most loan categories and strong membership growth.
"The second-quarter data indicates credit unions continue to deliver exceptional value and service to their members," NAFCU President/CEO Dan Berger said. "American consumers are seeing the difference between credit unions and their competitors, and the choice is clear. Excellent member service and first-rate products and services continue to set credit unions apart and draw new members to the industry."
CUNA Senior Economist Perc Pineda noted though the U.S. Gross Domestic Product growth, the sum of the products and services produced by the U.S. economy, in the first and second quarter were both soft, lending opportunities for credit unions remain strong given that labor markets continue to strengthen and the housing market recovery continues to gain momentum.
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