WASHINGTON—Credit union loans outstanding increased 1.2% in November, compared to a 1.3% increase in October 2022, and a 0.7% increase in November 2021, according to CUNA's latest Monthly Credit Union Estimates.
Other mortgage loans led loan growth rising 3.3% followed by credit card loans (2.6%), adjustable-rate mortgage loans (2.4%), home equity loans (2.1%), unsecured personal loans (1.4%), new auto loans (1.3%), other loans (0.8%), fixed rate mortgage loans (0.7%), and used auto loans (0.7%), CUNA reported.
In addition, CUNA reported credit union savings balances decreased 0.3% in November, compared to 0.7% decrease in October 2022, and a 0.1% increase in November 2021. One-year certificates led savings growth during the month rising 4.1% followed by individual-retirement accounts (0.3%).
On the decline were money market accounts (-1.9%), followed by regular shares (-0.9%), and share drafts (-0.9%), CUNA reported.
Credit unions’ 60+ day delinquency increased to 0.56% in November.
Additional Data Points
The loan-to-savings ratio increased to 81.3% in November compared to 80.1% in October. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) declined from 11.5% in October to 11% in November.
Total credit union memberships increased 0.2% in November to 137.6 million. The movement’s overall capital-to-asset ratio increased to 8.8% in November compared to 8.5% in October. The total dollar amount of capital increased 3.4% to $191 billion, CUNA noted.
Still Free in ’23! The Freshest CU Headlines. Right to Your Inbox.
The biggest, best and freshest news reporting in credit unions remains free in ’23! Each morning CUToday.info delivers its daily update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more.
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance you didn’t know was coming.
And did we mention it’s free?