This page provides the latest feature content on Nevada Credit Unions Industry, as well as links to resources from Nevada Business Magazine.
Latest Nevada Credit Unions Industry Feature
Credit Unions:
Diversifying Loan Activity
By John Seelmeyer
Originally Published: https://www.nevadabusiness.com/2021/12/credit-unions-diversifying-loan-activity/
Credit unions are becoming an increasingly important source of loans for small businesses, a development that’s particularly welcome to credit union executives vexed by the need to put massive flows of new deposits to profitable use. At the middle of this year, small business loans at the 15 credit unions headquartered in Nevada stood at $640 million, a 63 percent increase from a year earlier, reports the Nevada Credit Union League.
That figure, which includes commercial real estate loans to landlords, accounts for more than 18 percent of the loans on the books of the state’s credit unions, and it marks a nine-fold increase over the low-water mark of $68 million during the past 15 years. The growth in business lending extends across the state, the Credit Union League found.
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