The New York Credit Union Association, in conjunction with CUNA, has released the 2018 Year End New York Credit Union Profile report.

According to the report, which provides relevant analysis of key statistics and trends that impact credit union performance, New York credit unions continued to post solid loan and membership growth in the third quarter of 2018.

Highlights from the report include:

 Membership growth: Memberships at New York credit unions increased by 5.5 percent in 2018, outpacing the 3.3 percent growth recorded in 2017 and the 4.4 percent growth rate recorded nationally. In total, there are nearly 5.9 million memberships at New York credit unions.

 New auto loans: New auto loans grew by 4.1 percent in the fourth quarter of 2018, significantly higher than the 2.4 percent growth rate recorded nationally. In total, new auto loans grew by 17.6 percent at New York’s credit unions, while nationally credit unions recorded an increase of 11.7 percent.

 Used auto loans: Used auto loans at New York credit unions grew by 1.8 percent in the quarter, above the 0.7 percent national growth rate. On the year, used auto loans at New York credit unions increased by 14.4 percent, compared to the 9.1 percent growth recorded nationally.

 First mortgages: In the fourth quarter, first mortgages at New York credit unions grew by 1.9 percent, slightly above the 1.7 percent national average.

 Credit cards: New York’s credit unions posted a credit card growth rate of 5.1 percent in 2018, up from the 4.1 percent growth recorded in 2017.

“The latest New York Credit Union Profile report offers some encouraging insights into the state of the New York credit union movement,” said Association President/CEO William J. Mellin. “Credit unions in New York continue to grow memberships and loans, as more New Yorkers are recognizing credit unions as leading financial partners that can help consumers achieve their financial goals.”