Credit union membership increases to begin 2024

by America's Credit Unions

The number of Americans that are members of credit unions increased to over 142 million in January, according to the recently released America’s Credit Unions’ Monthly Credit Union Estimates.

Additionally, the estimates revealed that credit union loans outstanding and savings balances declined slightly in January. Other highlights from the report:

  • Home equity loans led loan growth during the month rising 5.3%, followed by adjustable-rate mortgages (3.6%), and unsecured personal loans (0.2%);
  • Auto loans (-0.1%), credit card loans (-0.7%), new auto loans (-0.8%), and fixed-rate mortgages (-0.8%), and other mortgage loans (-6.1%) saw declines.

Credit union loan-to-savings rates increased from 85.4% in December to 85.6% in January. Meanwhile, 60+ day delinquencies remained flat.

 

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