TruStage’s April 2024 Credit Union Trends Report
MADISON, WI (May 2, 2024) — 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.
View Trends Report
View Trends Report Executive Summary
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.
TruStage™ is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis.
