Credit union loans outstanding increased 0.8% in August,
compared to a 0.7% increase in July of 2023 and a 1.7%
increase in August of 2022, according to CUNA’s latest Monthly Credit Union Estimates.
Other mortgage loans led
loan growth during the month, rising 4.0%, followed
by adjustable-rate mortgages (3.1%), home equity loans
(2.4%), unsecured personal loans (1.6%), credit card loans
(0.9%), used auto loans (0.6%) and new auto loans (0.2%).
On the decline were fixed-rate mortgages (-0.05%).
Credit union savings balances increased 0.1% in
August, compared to a -1.0% decline in July of 2023
and a 0.6% increase in August of 2022.
One-year
certificates led savings growth during the month,
rising 3.5%, followed by share drafts (0.7%) and
individual retirement accounts (0.5%). On the decline
were regular shares (-2.2%) and money market
accounts (-0.9%).
Credit unions’ 60+ day delinquency remained at
0.7% in August.
The loan-to-savings ratio increased from 84.7% in
July to 85.2% in August. The liquidity ratio (the ratio
of surplus funds maturing in less than one year to
borrowings plus other liabilities) declined from 12.1%
in July to 12.0% in August.
Total credit union memberships grew 0.2% during August
to 140.7 million.
The movement’s overall capital-to-asset ratio increased
from 9.0% in July to 9.1% in August. The total dollar
amount of capital increased by 1.4% to $205.7 billion
Source: news.cuna.org