"While credit unions are still not back to their pre-recession performance, they are showing decent signs of recovery," Credit Union National Association Chief Economist Bill Hampel said.
"CUNA expects 2011 to be even better than 2010, with continued declines in loan losses and some modest improvement in earnings," Hampel added.
The NCUA's December 2010 Call Report data note that loan delinquencies and charge-offs both declined during the year. Although total loans outstanding fell by 1.3 percent in 2010, used-vehicle loans increased by 3.4 percent, first mortgage real estate loans increased by 2.7 percent, and unsecured credit card lending rose by 3.1 percent. The agency also noted a 16.4 percent decrease in new-car loans during 2010.