Our credit unions aced 2023

Loan demand was strong last year. Deposits were elusive. But that’s not news to you. That was the overall story for most credit unions in 2023.

For more than 10 years, we have collected and compiled quarterly call report data from our clients to look for trends and anticipate strategic shifts needed to remain competitive. Reviewing the data for last year, I’m not sure I could be more proud of what they’ve accomplished for their credit unions and their members.

Here is what I found:

1. Loan demand was strong in 2023, averaging 8.86% for all YMC clients. That was down from 16.09% growth in 2022. With liquidity tightening and loan-to-share ratios on the rise, loan demand didn’t decrease in 2023; however, the ability to lend did. One positive trend among several clients was decreasing dependence on indirect lending and increasing focus on serving ideal members. That drove share-of-wallet up as well as yield on loans.

 

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