WASHINGTON—Credit union loans outstanding increased 0.3% in December, compared to a 0.4% increase in November 2023 and a 1% increase in December 2022, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.
The estimates are based on information from a monthly sample of credit unions and are revised whenever more complete data is available, the association’s economists said.
According to the analysis, adjustable-rate mortgages led loan growth during the month, rising 3.7%, followed by credit card loans (2%), other mortgage loans (1.6%), home equity loans (0.9%), and unsecured personal loans (0.5%).
On the decline were used auto loans (-0.3%), new auto loans (-0.3%) and fixed-rate mortgages (-0.4%), ACU said.
The Data Points
According to America’s Credit Unions, other performance metrics in the latest data include:
- Credit union savings balances increased 0.7% in December, compared to a 0.3% increase in November 2023 and a 0.4% increase in December 2022. One-year certificates led savings growth during the month, at 2.9%, followed by share drafts (2.5%), and individual retirement accounts (0.3%). On the decline were money market accounts (-0.8%), and regular shares (-1.5%), ACU said.
- Credit unions’ 60-plus day delinquency remained at 0.8% in December.
- The loan-to-savings ratio decreased from 85.8% in November to 85.4% in December. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) increased from 12% in November to 12.9% in December.
- Total credit union memberships increased 0.1% during December to 142 million.
The movement’s overall capital-to-asset ratio increased to 9.1% in December. The total dollar amount of capital increased 3.1% to $208.7 billion, ACU said.