Nine is mighty fine

It’s that time of the year when the quarterly mortgage data is released by the Mortgage Bankers Association and Callahan & Associates.

And the data is mighty nine because for the first time ever, Credit Unions captured a 9% of the mortgage market! We must be doing some memberlicious stuff.


Q2 2014 Market Share

And the chart shows that in the last five quarters Credit Unions have grown market share from 6.0% to 9.0%. That’s a big jump!

During the second quarter, Credit Unions originated $23.9 million in new mortgages. This represented a 37% increase over the prior quarter.

Our for-profit friends, originated $243.1 million, but this was only up about 17% from the prior quarter.

Our faster paced mortgage growth resulted in the quarterly Credit Union market share jumping from 7.7% to 9.0%. This means that about 1 in every 11 dollars loaned to Americans for home ownership now comes from Credit Unions. Impressive (but still a long way off from having 100 million members).

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