More Iowans borrowed and saved at credit unions in the first quarter of 2015, according to new data from the Iowa Credit Union League.

Loan growth of 12.6 percent resulted in loan originations of $1.4 billion, an increase of 39 percent from the first quarter of 2014. This reflects a total loan portfolio of $9.3 billion at Iowa credit unions for first quarter 2015.

Total membership at the state’s credit unions grew by 2.6 percent for the first three months of 2015. Over the past 12 months, Iowa credit unions have added 26,000 members, according to the Callahan and Associates Quarterly Performance Summary Report.

Credit union shares in the 106 Iowa-domiciled credit unions increased by 6.9 percent, or $730.3 million, for a total of $11.3 billion held in shares at Iowa credit unions for the first three months of 2015.

Iowa credit unions originated $904.2 million in consumer loans for the first quarter of 2015, resulting in a 71 percent increase from a year ago. Additionally, mortgage originations topped $288.8 million, up 20 percent from the first quarter of 2014. Unsecured personal loans are up 9.7 percent and credit cards increased 8.9 percent. Other real estate originations posted a year-over-year decline of 1.2 percent.  

“Iowa’s consumers are choosing to do business at credit unions more so than ever before,” said Patrick Jury, president and CEO of the Iowa Credit Union League. “The increased growth in loans, especially consumer loans, deposits and memberships, shows an increased confidence in both the economy and their local, member-owned credit unions.”

The total dollar amount of loan balances and deposits per member in Iowa rose 6.2 percent to reach an average of $18,663, topping the national credit union average by more than $2,000.