WASHINGTON—Credit union loans outstanding increased 0.4% in April, compared to a -0.03% decline in March of 2024 and a 0.6% increase in April of 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.
Home equity loans led loan growth during the month rising 3.1%, followed by unsecured personal loans (1.0%), other mortgage loans (0.5%), credit card loans (0.4%), used auto loans (0.3%), and fixed rate mortgages (0.3%), ACU said.
On the decline were new auto loans (-0.5%) and adjustable-rate mortgages (-0.7%).
The Data Points
Among the other points in ACU’s April numbers:
- Credit union savings balances decreased -0.7% in April, compared to a 1.6% increase in March of 2024 and a -0.7% decline in April of 2023. One-year certificates led savings growth during the month rising to 1.8%, followed by individual retirement accounts (0.3%), ACU said.
- On the decline were regular shares (-1.0%), money market accounts (-1.0%), and share drafts (-3.2%).
- Credit unions’ 60+ day delinquency increased to 0.9% in April.
- The loan-to-savings ratio increased from 82.9% in March to 83.7% in April. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) decreased from 15.7% in March to 14.4% in April, ACU said.
- Total credit union memberships increased 0.1% in April to 142.6 million.
- The movement’s overall capital-to-asset ratio increased to 9.2% in April. The total dollar amount of capital decreased by -0.2% to $212.4 billion, ACU noted.
The estimates are based on information from a monthly sample of credit unions and are revised whenever more complete data is available, according to the trade group.
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