Credit union loans outstanding increased 0.8% in August
Credit union loans outstanding increased 0.8% in August, compared to a 0.7% increase in July of 2023 and a 1.7% increase in August of 2022, according to CUNA’s latest Monthly Credit Union Estimates.
Other mortgage loans led loan growth during the month, rising 4.0%, followed by adjustable-rate mortgages (3.1%), home equity loans (2.4%), unsecured personal loans (1.6%), credit card loans (0.9%), used auto loans (0.6%) and new auto loans (0.2%).
On the decline were fixed-rate mortgages (-0.05%).
Credit union savings balances increased 0.1% in August, compared to a -1.0% decline in July of 2023 and a 0.6% increase in August of 2022.
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