Loans at US Credit Unions Hit Nine Year High in 2014 / Sputnik International


The National Credit Union Administration stated that US citizens were more willing to take credit in 2014 leading to a growth in loan increases at US credit unions that reached $712.3.

“Loan growth at federally insured credit unions in 2014 climbed to the highest level since 2005,” the statement, issued on Monday said. “Total loans reached $712.3 billion.”

Americans were more willing to take risks and assume loans, which led to a 10.4 percent growth in outstanding loans between the end of 2013 and end of 2014, according to the statement.

However, 2014 saw long-term investments decline 3.5 percent or $276 billion, the statement said. All categories across the board saw investment declines except those with maturities of one to three years, which increased 11.8 percent to $99.7 billion.

Such development represented a decreasing economic confidence as Americans opted to save more to grow their assets.

Assets grew 5.7 percent or $60 billion, with total assets nearing $1.12 trillion, the statement said.

Additional signs of increased consumer savings are found in the share and deposit accounts at US credit unions, which increased $11.7 billion to $951 billion.

The NCUA is an independent US federal agency tasked with regulating, chartering and supervising federal credit unions

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3 Responses to Loans at US Credit Unions Hit Nine Year High in 2014 / Sputnik International

  1. Hildegard says:

    “The Chicago police rejected the claims stating that they abide by all laws.” Yes, but if the laws are unconstitutional they are null and void. AND THAT IS A FACT. So stand up for your constitutional rights people. Stop bending over for thugs!

  2. Randeau says:

    Whom loaned Whom “money”? Whom actually was the Borrower and whom actually is the Lender? One day soon people will realize that they are the Lender and the financial institutions are the Borrowers. Most, if not all loans are created in deceit and fraud and therefore these “loans” are null and void from the onset. And there is no statute of limitations on Fraud. This is easily supported by double-entry banking records. America you can be free of debt if you choose!

    • Hildegard says:

      I like your attitude! There is no one to give us power we just have to claim the power we already possess. Any idea to the contrary is pure fiction.

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