Credit union loans outstanding increased 0.5% in September, compared to a 1.0% increase in August of 2021 and a 0.5% increase in September of 2020., according to CUNA’s latest Monthly Credit Union Estimates (MCUEs).
Other mortgage loans led loan growth during the month, rising 2.5%, followed by unsecured personal loans (2.0%), used auto loans (1.1%), fixed-rate mortgages (0.8%), adjustable-rate mortgages (0.7%), credit card loans and new auto loans (both rising 0.1%), and home equity loans (0.02%).
Credit union savings balances increased 0.7 % in September, compared to a 0.1% increase in August of 2021 and a 0.7% increase in September of 2020. Share drafts led savings growth during the month, rising 1.5%, followed by money market accounts (1.3%), regular shares (0.8%), and individual retirement accounts (0.1%).
On the decline during the month were one-year certificates (-0.5%).
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