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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.

Contacts

Allison Fanney
media.relations@LPLFinancial.com

Barclay Pollak
608.665.7188
barclay.pollak@trustage.com

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