Wednesday, May 14, 2014

Record Membership Growth...Sustainable?

Our chief economist, David Colby has seen it all over the past three decades - ups, downs, record numbers, crashing economy, and WKRP in Cincinnati (he's a big fan). This month's Credit Union Trends Report brings with it some interesting and record-breaking numbers and facts:

  • Annual loan growth has improved for 30 consecutive months and at 8.1% it is at its highest level since October 2006.
  • Vehicle Loan growth is the strongest it's been since March of 2004.
  • 1 million new credit union members in Q1 of 2014
Colby sat down with us in the Digital Lab to discuss these (and other) huge points for the industry. But the question we had to ask was, "Is this membership growth sustainable?" His short answer, "Absolutely not!" Check the full interview below or click here