CUNA Mutual Group’s March 2021 Credit Union Trends Report
MADISON, WI (March 19, 2021) — The Credit Union Trends Report is a monthly “pulse check” on the state of the credit union marketplace, often placed in a historical context. The report includes data from two months prior and is published and distributed by Steven Rick from CUNA Mutual Group.
March 2021 (January data)
- Rising long-term interest rates have pushed up 30-year fixed-rate mortgage interest rates from 2.65% set during the first week of 2021 to 3.02% today.
- Credit union loan growth slowed to a 5.3% in 2020, down from 6.5% in 2019, which was the slowest pace since 2012.
- Credit union savings balances rose 0.9% in January due $600 stimulus checks being deposited in millions of credit union members checking accounts.
About CUNA Mutual Group
Built on the principle of “people helping people,” CUNA Mutual Group is a financially strong insurance, investment and financial services company that believes a brighter financial future should be accessible to everyone. Through our company culture, community engagement, and products and solutions, we are working to create a more equitable financial system that helps to improve the lives of those we serve and our society.
For more information, visit www.cunamutual.com.