Total credit union loans fell by 0.25% in February

Total credit union loans outstanding fell by 0.25% in February, compared to a 0.21% gain in January and a 0.05% fall in February 2024, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.  

Now available in a dashboard, the report is generated from the Equifax Analytic Dataset, an anonymized random sample of credit report data that tracks 10% of all U.S. consumers with a social security number.  

Home equity lines of credit (HELOCs) grew in February by 0.91%. Mortgages (-0.18%), auto loans (-0.11%), and credit cards (-1.38%) declined.  

Credit union auto loans fell by 0.11% in February, compared to bank auto loans falling by 0.16% and auto financing companies’ loans falling by 0.31%.

The decline in credit card loan growth was more pronounced at banks (-1.62%) and credit card companies (-1.98%), compared to -1.38% at credit unions.  

Year-over-year credit union loan growth continued to slow slightly, landing at 1.45% growth for the year ending February 2025, compared to 1.66% growth in the year ending January 2025.  

All mortgage loans grew by 3.5% in the year ending February 2025, while all non-mortgage loans declined by 0.52% over the same period.