According to Federal statistics, the popularity of loans has increased dramatically in the United States.

This indicates a reviving economy and growing consumer activity. A special role in this process is played by credit unions, whose merits were recently noted by Debbie Matz, member of the Board of the Federal state regulator National Credit Union Administration (NCUA).

“Credit  unions issue loans necessary for the improvement of the local economy,” said Ms. Matz. “People spend money on buying houses and cars, going to College, and many other things that make their lives better.”
The latest NCUA report clearly shows that loans issued by such unions are the engine of the American economy. Here are just a few interesting facts from the

NCUA tells for the 1st quarter of 2018:

– The total amount of insured loans increased by 10.6% compared to the first quarter of 2017 and amounted to $721 billion.
There has been significant progress in almost all categories of loans. The popularity of personal loans increased by 29.9%, loans for new cars – by 21.5%, old cars – 13.2%, the first mortgage loans – 8.9%, home improvement – 2.5%, business loans-11.6%, student non -federal loans – 15.2%.
– The number of unreliable borrowers has decreased.

The number of offences (delinquencies) and debt collection by collectors (charge-offs) has been at a record low since 2007. The vast majority of clients of credit unions regularly pay the borrowed money, improve their credit history and financial reputation.

– The number of clients of credit unions is approaching 100 million mark.
As of March 31, 2018, the number of borrowers was 99 million 969 thousand 994 people. This is 2.8 million more than in the 1st quarter of 2017. Americans increasingly trust credit unions.

– Credit unions receive a stable income.

For 21 months, lenders received stable net income, which increased by 5.7% from the first quarter of 2014 to the first quarter of 2018.
– Credit unions remain well capitalized, that is, they are able to transform their own funds and develop. 97.5% of unions capitalize more than required by law (7%).

The value of assets and shares continues to increase.
In just 12 months, the assets of credit unions rose to $ 41.16 trillion. The increase was $60.6 billion or 5.5%. In General, deposits of credit unions insured by the Federal government increased from the first quarter of 2017 to the first quarter of 2018 by $ 41.3 billion, reaching $984.4 billion.

NCUA statistics should be taken very seriously. This Federal Agency was created by Congress to regulate and control credit unions. It manages the national credit insurance Fund of the unions (National Credit Union Share Insurance Fund) and guarantees the safety of nearly 100 million Bank accounts.

Currently, each client of the credit Union is insured for at least $ 250 thousand. This means that taking out loans is very safe and secure.

One of the best credit unions in new York is considered to be Bay Ridge Federal Credit Union, located a two-minute walk from the editorial office of ” RB ” at:
1750 86th Street, Brooklyn, NY 11214 (second branch – 1609 Avenue Z, Brooklyn, NY 11235). Official website –

“We are proud that the first Brooklyn Federal credit Union, founded in 1934, has been successfully operating for more than 80 years and continues to develop,” says BRFCU Executive Vice President Anthony Grigos. “Our credit Union offers many types of loans – for example, for the purchase of residential and commercial real estate, home improvement, as well as a large range of personal loans.”

Therefore, dear readers, if you need money to improve your life, please contact the credit Union with a good reputation and a huge number of satisfied customers. Bay Ridge Federal Credit Union is the place where you will be helped to solve your problems with money.