Credit union loans outstanding increased 0.5% in February

Credit union loans outstanding increased 0.5% in February, compared to a 0.6% increase in January 2022, and a 1.0% increase in February 2022, according to CUNA’s latest Monthly Credit Union Estimates.

Home equity loans led loan growth rising 1.5% followed by adjustable-rate mortgage loans (1.1%), other mortgage loans (1.1%), unsecured personal loans (0.8%), used auto loans (0.5%), other loans (0.4%), fxed-rate mortgage loans (0.3%), and new auto loans (0.2%).

On the decline were credit card loans (-0.4%).

Credit union savings balances increased 1.1% in February, compared to a -0.9% decrease in 2022, and a 1.6% increase in February 2022. On the rise were oneyear certificates rising 6.1% followed by individual retirement accounts (2.5%), share drafts (2.4%), and regular shares (0.0%). On the decline were money market accounts (-1.9%).

 

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