WASHINGTON—Credit union loans outstanding increased 1.1% in December, according to CUNA's latest Monthly Credit Union Estimates, compared to a 1.2% increase in November 2022, and a 1.0% increase in December 2021.
The data show “other mortgage loans” led loan growth rising 3.7% followed by credit card loans (2.9%), adjustable-rate mortgage loans (2.6%), home equity loans (2.1%), unsecured personal loans (1.5%), new auto loas (0.9%), other loans (0.9%), used auto loans (0.8%), and fixed-rate mortgage loans (0.5%).
Credit union savings balances increased 0.4% in December, compared to a -0.3% decrease in November 2022, and a 1.3% increase in December 2021, CUNA said.
One-year certificates led savings growth during the month rising 5.4% followed by share drafts (2.2%). On the decline were money market accounts (-2.1%), regular shares (-0.9%) and individual retirement accounts (-0.5%).
Additional Data Points
Other data points:
- Credit unions’ 60+ day delinquency increased to 0.58% in December
- The loan-to-savings ratio increased to 81.8% in December compared to 80.3% in November
- The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) remained at 11% in December, CUNA noted.
- Total credit union memberships increased 0.2% in December to 137.9 million.
- The movement’s overall capital-to-asset ratio remained at 8.8% in December. The total dollar amount of capital increased 1.5% to $195.6 billion.
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