Paycheck Protection Program loans made up a significant portion of the loan portfolios at four of the top credit union lenders in this area during the third quarter.
These loans made up at least 15% of the portfolios at Self-Help Federal Credit Union in Durham, N.C., Notre Dame Federal Credit Union in Indiana, Vibrant Credit Union in Moline, Ill., and Greater Nevada Credit Union in Carson City, according to a new analysis by S&P Global Market Intelligence.
PPP credits constituted the largest percentage of loans at the $862 million-asset Notre Dame at 24.1% followed by the $918 million-asset Vibrant at 20.2%, according to the analysis. The data looked at outstanding PPP loans for the top PPP credit union lenders in the third quarter.
At the $1.5 billion-asset Self-Help, PPP loans totaled 15.5% of its overall portfolio.
PPP loans were 17.2% of the loan portfolio at the $1.3 billion-asset Greater Nevada, but these credits had declined by about 18% in the third quarter from the previous one. Earlier this year, the credit union
Navy Federal Credit Union in Vienna, Va., reported the largest jump in PPP loans from the second to the third quarter at 14.1%. The $131.6 billion-asset institution had $163.6 million of these loans, making up just 0.2% of its portfolio. The $4.1 billion-asset Northwest Federal Credit Union in Herndon, Va., had the second-biggest increase at 11.6% and had a total $110.7 million in PPP loans, according to the S&P data.
Mountain America Federal Credit Union in Sandy, Utah, had the largest amount of PPP loans at $349.2 million, according to the analysis.
