Home equity lines of credit would normally thrive in a market with rising prices and where many older homeowners are loath to sell. But HELOC activity is actually on the decline in all but one corner of the industry: credit unions.

There were nearly 7.9 million open HELOC accounts in the first quarter of 2017, down 12.77% from the first quarter of 2015, when there were about 9 million open accounts, according to TransUnion.

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