The Credit Unions show strong performance

According to FirstLook data from Callahan & Associates, the credit union industry's assets have grown 5.5% year-over-year to top $1.17 trillion as of March 2015. Total loan balances at credit unions hit $731.2 billion, up 10.6% from the previous March. Credit unions originated $89.5 billion in loans in the first three months of 2015, marking a 20.8% year-over-year growth. Here are other notable first quarter trends:

Loans: As of March 2015, all major consumer lending categories reported faster year-over-year growth compared with the previous March. Moreover, the industry posted annual origination growth in every loan category, including first mortgage, other real estate, consumer, and member business loans. Notably, first mortgage origination skyrocketed in the first quarter, growing 50.8% year-over-year to top $26.4 billion.
Capital: Credit unions have nearly 133 billion in capital, up 8.0% from the previous March.
Members: Membership increased 3.0% over the past twelve months, reaching 101.4 million as of March 2015.
Relationships: The average member relationship — the total dollar amount of loan balances (excluding member business loans) and deposits per member — topped $17,115. That’s an increase of 4.2% from March 2014.
Share Growth: Share growth is picking up at credit unions, primarily driven by strong growth in core deposits. The quarter’s 4.4% growth is up 70 basis points from one year ago.
The Bottom Line: In the first quarter of 2015, credit unions posted the highest year-over-year growth (6.6%) in total income of last seven years. This impressive growth in total income is driven by higher loan interest income, fee income, and other operating income.