Georgia credit unions say lending levels remain strong

ATLANTA — Lending levels remain strong at credit unions throughout Georgia, and the number of loans in the third quarter increased by 3 percent over the second quarter and 11 percent over the previous 12 months ending in September, Georgia Credit Union Affiliates (GCUA) said.

New automobile loans in the third quarter increased by 25 percent as of September 2015 compared to September 2014 and by 4.9 percent over the second quarter of 2015. Used auto loans were up 3 percent in the third quarter compared to the second quarter of 2015. First mortgages grew by 2.8 percent over the second quarter.

Other unsecured loans also grew 2.8 percent over the second quarter, while business lending was up 2.6 percent; credit cards 1.8 percent and second mortgages increased 1.2 percent over the previous quarter. No tracked loan category finished in the red for the quarter.

About the author

Express Telegraph

Express-Telegraph is a news outlet for the 21st century. Based in Metro Atlanta, the outlet focuses on news, politics and sports centered on The Peach State. Get on board the Express.