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 TruStage™.
April 2024
- Credit union loan balances fell 0.1% in February, below the 0.4% gain reported in February 2023.
- Many home buyers have switched to adjustable-rate mortgages which rose 26% over the last year.
- We are forecasting credit union savings balances to grow 3% in 2024, below the 7% long-run 30-year average.
- The credit union industry’s average loan net charge-off rate rose to 0.77% in the fourth quarter, from 0.43% one year earlier.