CUNA Mutual Group’s November 2020 Credit Union Trends Report
MADISON, WI (November 20, 2020) — 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.
November 2020 (September 2020 data)
- Credit union loan balances rose 0.5% in September, slower than the 0.6% pace reported in September 2019.
- Credit union savings balances rose a strong 18.3% during the last 12 months due to $1,200 stimulus checks, COVID-19 induced uncertainty, falling gasoline purchases, aging demographics and fears of recession.
- The credit union system’s capital-to-asset ratio fell to 10.5% in September, down from 11.3% in September 2019 due to a surge in deposits and assets and a slowdown in earnings.
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.