TruStage’s August 2023 Credit Union Trends Report
MADISON, WI (September 12, 2023) — 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™.
- Credit union credit card lending is growing at the fastest pace on record as banks tighten their lending standards.
- Mortgage interest rates hit the highest level in more than 22 years, limiting the number of homes for sale.
- Certificate of deposit balances are growing at the fastest pace in credit union history as interest rates rise above 5%.
View Trends Report Executive Summary
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.