Sacramento-area credit unions are also benefiting from the improved loan environment that local banks have reported.
The Ontario-based California Credit Union League said 10 credit unions headquartered in Sacramento County had a combined $8.4 billion in loans at the close of the third quarter on Sept. 30. That’s up from $7.3 billion in this year’s second quarter and a nearly 20 percent gain year-over-year.
Loans included first mortgages, home-equity lines of credit, business loans, auto loans and credit cards.
New auto loans saw the biggest year-over-year increase, up 33.3 percent from 2014.
First mortgages increased 16.3 percent over last year. Within that sector, CCUL said there was a 136.6 percent annual gain in fixed-rate loan originations.