CUNA Mutual Group’s October Credit Union Trends Report
MADISON, WI (October 26, 2017) — CUNA Mutual Group’s October Credit Union Trends Report is now available. Highlights from the report follow.
October 2017:
- Credit union loan balances rose 1.1% in August, the same pace set in August 2016. During the last 12 months, credit union loan balances increased 10.8%, a similar pace as seen during the last 3 years.
- Savings balances grew at a 6.4% seasonally-adjusted, annualized growth rate in August, continuing the downward trend in growth reported over the last year as members spend more of their windfall from low gas prices.
- Credit union memberships rose a record 543,000 in August, or 0.50%, much better than the 483,000 new members, or 0.45%, added in August 2016.
About TruStage
TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.
