Loans from credit unions increased by 1.9% in August | 2022-10-18
Outstanding credit union loans increased 1.9% in August, compared to a similar increase of 1.9% in July 2022 and a 1.0% increase in August 2021, according to the latest CUNA report. Credit union monthly estimates.
Other mortgages led loan growth during the month, up 3.9%, followed by unsecured personal loans (3.3%), home equity loans (3.0%), adjustable rate mortgages (3.0%), other loans (2.9%), new loans (2.6%), used car loans (1.6%), credit card loans (1.3 %) and fixed rate mortgages (0.9%).
Credit union savings balances decreased -0.2% in August, compared to an increase of 0.1% in July 2022 and an increase of 0.1% in August 2021. accounts (0.1 %).
Down were money market accounts -0.7%, followed by equity trades (-0.8%) and common stocks (-0.9%).
Credit unions’ 60+ day delinquencies remained at 0.49% in August.
The loan-to-savings ratio increased to 77.9% in July from 76.2% in July. The liquidity ratio (the ratio of excess funds maturing in less than a year to borrowings plus other liabilities) declined from 14.8% in July to 13.5% in August.
The total number of credit union memberships rose 0.3% in August to 134.6 million.
The movement’s overall capital-to-asset ratio fell to 8.9% in August from 9.0% in July. Total dollar capital amount decreased -1.4% to $194 billion