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Nebraska CUs' Mortgage Loans Up 7.7% in 3Q
OMAHA, Neb. (12/19/13)--A 7.7% surge in first mortgages led Nebraska credit unions to the highest level of growth in that category since the recession, according to the Nebraska Credit Union League.
 
The league's analysis of data from the National Credit Union Administration found that credit unions added $53.5 million in first mortgages through the third quarter, resulting in a total of $752.6 million in first mortgages and a 7.7% annual growth rate.
 
The level of overall loans outstanding reached $2.41 billion.
 
Also, the number of members that have auto loans at their credit unions rose 33 basis points, or 21.2% annually, for the third quarter. That penetration is higher than the national credit union average of 16.5%.
 
Credit union shares rose to $3.17 billion--a 4.1% increase compared with a year ago. Nebraska credit unions showed positive annual growth in all core deposit categories, said the league.
 
Membership at Nebraska credit unions reached 452,798 with a 2.1% growth rate that is on par with the national average.

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