Credit union loans increased 2.3% in May

Credit union loans outstanding increased 2.3% in May, compared to a 1.9% increase in April of 2022 and a 0.8% increase in May of 2021, according to CUNA’s latest Monthly Credit Union Estimates.

Other mortgage loans led loan growth during the month rising 3.5%, followed by unsecured personal loans (3%), new auto loans (2.9%), used auto loans (2.3%), credit card loans (2.2%), other loans (2.0%), fixed rate mortgage loans (2.0%), adjustable-rate mortgage loans (1.9%), home equity loans (1.7%).

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