IE Business Daily Business news for the Inland Empire.
Credit unions raised their profile in the Inland Empire during the past year.
The 25 credit unions based in the Inland Empire issued approximately $1.2 billion in loans during the one-year period that ended March 31, according to data released recently by the California Credit Union League.
That was a 13.2 percent year-over-year increase, with the highest areas of growth happening in automobile loans: up 60.1 percent for new auto loans and 21 percent for used auto loans.
Inland credit unions held more than $2.5 billion in deposits for local consumers, a 6.2 percent increase compared with the one-year period that ended March 2014, and it spent an estimated $362.8 million on employees and operations during that time, according the league’s first quarter analysis of the local market.
The California Credit Union League is based in Ontario. It represents nearly 10 million credit union members statewide and is the official trade
association for the 365 credit unions based in California, according to a statement.
