MADISON, Wis.–Credit union loans outstanding increased 0.7% in June, compared to a 0.7% increase in May of 2023 and a 2.3% increase in June of 2022, according to CUNA's newly released Monthly Credit Union Estimates.
According to the CUNA data, adjustable-rate mortgages led loan growth during the month, rising 2.8%, followed by other mortgage loans (2.3%), unsecured personal loans (1.5%), used auto loans (0.7%), home equity loans (0.7%), other loans (0.7%), fixed-rate mortgage loans (0.3%), credit card loans (0.3%), and new auto loans (0.2%).
In addition, CUNA reported credit union savings balances increased 0.7% in June, compared to a 0.4% decline in May of 2022 and a 0.1% increase in June of 2022. One-year certificates led savings growth during the month, rising 4.2%, followed by share drafts (3.5%), and individual retirement accounts (0.2%).
On the decline during the month were money market accounts declining -1.8%, followed by regular shares (-1.7%).
Other Data Points
Other data points in the latest CUNA Monthly Estimates:
- Credit unions’ 60+ day delinquency remained at 0.6% in June.
- The loan-to-savings ratio increased slightly from 83.1% in May to 83.2% in June.
- The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) increased from 12.3% in April to 12.8% in June.
- Total credit union memberships grew 0.2% during the month of June to 139.9 million.
- The movement’s overall capital-to-asset ratio decreased from 8.9% in May to 8.8% in June. The total dollar amount of capital decreased -0.2% in June to $201.1 billion.
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