WASHINGTON—The number of Americans who are members of credit unions increased to more than 142 million in January, according to the recently released America’s Credit Unions’ Monthly Credit Union Estimates.
Additionally, the estimates revealed that credit union loans outstanding and savings balances declined slightly in January.
Other highlights from the America’s Credit Unions’ analysis:
- Home equity loans led loan growth during the month rising 5.3%, followed by adjustable-rate mortgages (3.6%), and unsecured personal loans (0.2%)
- Auto loans (-0.1%), credit card loans (-0.7%), new auto loans (-0.8%), and fixed-rate mortgages (-0.8%), and other mortgage loans (-6.1%) saw declines.
- Credit union loan-to-savings ratios increased from 85.4% in December to 85.6% in January. Meanwhile, 60+ day delinquencies remained flat.
- The industry’s capital-to-asset ratio increased to 9.2% in January. The total dollar amount of capital increased to $210.5 billion, ACU said.