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™.
August 2024
- Long term interest rates fell by 83 basis points since April, boosting interest rate sensitive sectors of the economy.
- Credit union loan balances grew at a 3.0% seasonally adjusted, annualized growth rate in June, less than half the 6.6% pace set in June 2023.
- Certificate of deposit balances now make up 28% of all credit union deposits, double the share from 2021 and the highest since 2009.
- Credit union memberships should exceed 144 million by the fourth quarter of 2024.