Industry Analysis & Industry Trends
More consumer are turning to credit unions as membership requirements become more relaxed. Credit unions are better suited to offer lower interest rates, thanks to their nonprofit status and dedication to providing satisfying customer service. As a result, membership has consistently grown over the past five years and is expected to continue climbing to record levels. As the industry consolidates, it will be better able to compete with other lending institutions, allowing both revenue and profit to improve over the next five years... purchase to read more
Industry Report - Industry Products Chapter
First-mortgage loans
First-mortgage real estate loans constitute the largest loan category, accounting for about 41.2% of the market. In 2008, first mortgages accounted for 36.7% of the total loan portfolio, which shows the extent to which credit unions have increased their focus in this product segment. This segment's share of total revenue has been growing over the past five years, albeit at a slower pace in 2010 due to failures of credit unions heavily invested in mortgages. Over the five years to 2018, IBISWorld estimates the housing price index will increase at an annualized rate of 3.1%, which will translate into a higher number of mortgage loans distributed by credit unions... purchase to read more