Credit union loans grew 0.26% in July

Credit union loans outstanding increased 0.26% in July, compared to a 0.38% increase in the previous month and a 0.2% decrease in July 2024, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.

Leading loan growth during the month were:

• Home equity lines of credit (1.89%);
• Second mortgages (1.11%);
• Credit cards (0.79%);
• Unsecured personal loans (0.47%);
• Secured personal loans (0.26%); and
• Auto loans (0.1%).

On the decline were first mortgages (-0.12%) and private student loans (-0.75%).

The report is generated from the Equifax Analytics Dataset, an anonymized random sample of credit report data that tracks 10% of all U.S. consumers with a Social Security number.

The estimates are updated monthly and available in an online dashboard with other resources. The Data and Tools section of America’s Credit Unions website contains a wide range of dashboard analytics; data at the state and district level, various calculator tools; the economic forecast; and more.