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US community bank loan and deposit growth outpaced credit unions in Q3'19

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US community bank loan and deposit growth outpaced credit unions in Q3'19

U.S. community banks posted both higher loan growth and higher deposit growth year over year compared to U.S. credit unions.

Loans grew by 8.2% year over year at the nation's community banks and thrifts under $10 billion in assets, while U.S. credit unions posted 5.9% growth. Similarly, deposits grew by 8.1% at community banks, compared to 6.9% at credit unions.

Meanwhile, cost of funds at U.S. credit unions was 1.04% in the third quarter versus 0.98% at community banks. Net interest margin was also 5 basis points higher at community banks, at 3.68%.

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