Credit union loans outstanding declined 0.4% in August

Credit union loans outstanding declined 0.4% in August, compared to a 0.5% increase in July 2024 and a 0.6% increase in July 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates. Estimates are based on information from a monthly sample of credit unions and are revised whenever more complete data is available.

Other mortgage loans led loan growth during the month with a 2.4% increase, followed by home equity loans (1.5%), unsecured personal loans (1.2%), fixed-rate mortgages (0.5%), credit card loans (0.2%), adjustable-rate mortgages (0.2%), and used auto loans (0.1%).

On the decline:  new auto loans (-0.6%).

Credit union savings balances increased 1.2% in August, compared to a -0.3% decrease in July 2024 and a -0.2% decrease in August 2023.

Share drafts led savings growth during the month rising to 3.4%, followed by one year certificates (2.4%), money market accounts (0.1%), and individual retirement accounts (0.1%). On the decline were regular shares (-0.8%).

Credit unions’ 60+ day delinquency increased to 0.9% in August.

The loan-to-savings ratio decreased from 84.5% in July to 83.8% in August. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) increased from 13.8% in July to 14.9% in August.

Total credit union memberships increased 0.1% in August to 142.6 million.

The movement’s overall capital-to-asset ratio increased to 9.5% in August. The total dollar amount of capital increased by 2.0% to $225.4 billion.

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