TruStage’s February 2024 Credit Union Trends Report

MADISON, WI (March 11, 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™.

February 2024

  • The personal savings rates averaged only 4.5% in 2023, below the 6% long run average, creating a headwind for credit union deposit growth.
  • Real home prices rose only 1% in 2023, the second year of a home price downcycle.
  • Household debt burdens, as measured by residential mortgages and consumer credit as a percentage of disposable personal income, fell to 88.1% in the third quarter of 2023, down from 91.7% in the third quarter of 2022.
  • The housing market closed 2023 on a weaker note as existing home sales fell 1% to a 3.78 million seasonally adjusted annual rate in December from November and fell 6% from December 2022.

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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