Credit union loans fall in March 

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Credit union loans outstanding decreased 0.02% in March – compared to a 0.06% decrease in February – according to America’s Credit Unions’ latest Monthly Credit Union Estimates. For reference, March 2023 saw a 0.7% increase in loans outstanding. The 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 rising 2.4%, followed by home equity loans (0.7%), fixed-rate mortgages (0.3%), and unsecured personal loans (0.1%). On the decline were used auto loans (-0.5%), credit card loans (-0.2%), new auto loans (-1.1%), and adjustable-rate mortgages (-0.6%) 

Credit union savings balances increased 1.6% in March, with share drafts leading savings growth during the month at 2.7%, followed by one-year certificates (2.3%), regular shares (1.2%), individual retirement accounts (0.7%) and money market accounts (0.2%). 

Credit unions’ 60-plus day delinquency remained at 0.8%. 

The loan-to-savings ratio decreased from 84.2% in February to 82.9% in March. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) increased from 14.3% to 15.7%. 

Total credit union memberships increased 0.2% in March to 142.4 million. 

The movement’s overall capital-to-asset ratio remained at 9.1%. The total dollar amount of capital increased 1.2% to $212.7 billion. 

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