Credit union loans outstanding increased 0.5% in July, compared to a 0.5% increase in June of 2024 and a 0.6% increase in July of 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.
Home equity loans led loan growth during the month rising 3.4%, followed by unsecured personal loans (1.3%), credit card loans (0.8%), used auto loans (0.4%), other mortgage loans (0.3.%) and fixed rate mortgages (0.1%).
On the decline were new auto loans (-0.3%) and adjustable-rate mortgages (-0.6%).
Credit union savings balances declined -0.3% in July, compared to a -0.1% decrease in June of 2024 and a -0.9% decrease in July of 2023.
One-year certificates led savings growth by rising 1.3%, followed by individual retirement accounts (0.3%), and money market accounts (0.1%). On the decline were regular shares (-1.0%) and share drafts (-1.9%).
Credit unions’ 60-plus day delinquency increased to 0.9% in July.
The loan-to-savings ratio increased from 83.8% in June to 84.5% in July. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) decreased from 14.2% in July to 13.8% in July.
Total credit union memberships increased 0.1% in July to 142.5 million.
The movement’s overall capital-to-asset ratio increased to 9.5% in July. The total dollar amount of capital increased by 1.9% to $220.9 billion.
