Credit union loans increased 0.3% in December

Credit union loans outstanding increased 0.3% in December, according to America’s Credit Unions’ latest Monthly Credit Union Estimates, compared to a 0.4% increase in November 2023 and a 1% increase in December 2022. The estimates are based on information from a monthly sample of credit unions and are revised whenever more complete data is available.

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%).

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%).


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