TruStage’s December 2023 Credit Union Trends Report

MADISON, WI (January 16, 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™.

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.

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


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