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™.
December 2023
- The core PCE deflator, which excludes food and energy prices and is the Federal Reserve’s preferred inflation gauge, rose only 0.1% in November and 3.2% during the last 12 months.
- Savings balances grew at a 1.6% seasonally adjusted annualized growth rate in October, above the 0.5% reported one year earlier but below the 7% long–run average.
- Credit union productivity took a step back in 2023 as asset growth slowed or even declined for most credit unions, but credit unions have not cut staff in proportion to the drop in assets.