Credit union loans outstanding declined 0.4% in September, equaling declines in August 2024 (-0.4%) and September 2023 (-0.4%).  This is according to America’s Credit Unions’ latest Monthly Credit Union Estimates, based on information from a monthly sample of credit unions and are revised whenever more complete data is available.

Adjustable-rate mortgages led loan growth during the month increasing 2.6%, followed by other mortgage loans (2%), unsecured personal loans (1.4%), home equity loans (1.4%), and credit card loans (0.5%).

On the decline were fixed-rate mortgages (-0.3%), new auto loans (-0.4%), and used auto loans (-0.6%).

Credit union savings balances decreased 0.04% in September, compared to a 1.1% increase in August 2024 and a 0.6% increase in September 2023. 

One-year certificates led savings growth during the month rising to 2.1%, followed by individual retirement accounts (0.4%). On the decline were money market accounts (-0.08%), regular shares (-1.0%), and share drafts (-2.4%).

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

The loan-to-savings ratio increased from 83.9% in August to 84.3% in September. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) decreased from 15% in August to 14.1% in September.

Total credit union memberships increased 0.1% in September to 144 million.

The movement’s overall capital-to-asset ratio increased to 9.7% in September. The total dollar amount of capital decreased by 1.1% to $227.9 billion.