MCUEs: CU loan balances rose 1% in August | 2021-10-27
CUNA’s monthly credit union estimates in August show an increase in member savings and outstanding loans.
Credit unions’ loan balances rose 1.0% in August, compared with a 0.8% increase in July 2021 and a 0.3% increase in August 2020. Fixed-rate mortgages grew 1.4% over the month. followed by unsecured personal loan loans (1.3%), used car loans (1.2%), credit card loans (0.9%) and home equity loans (0.1%).
Other mortgage loans (-1.3%), adjustable-rate mortgages (-0.8%) and new car loans (-0.1%) saw a decline over the course of the month.
Credit unions’ savings rose 0.1% in August, compared with a 1.2% increase in July 2021 and a 0.3% increase in August 2020. Money market accounts added 1.7% growth in savings over the month, followed by regular stocks (0.2.). %).
Changes in shares (-1.1%), one-year certificates (-0.9%) and individual pension accounts (-0.1%) fell over the course of the month.
Credit unions’ default over 60 days remained at 0.5% in August.
The savings rate increased from 69.9% in July to 70.4% in August. The liquidity ratio (the ratio of excess funds with a remaining term of less than a year to borrowings plus other liabilities) fell from 22.0% in July to 21.7% in August.
The total membership of the credit unions rose 0.2% to 130.2 million in August.
The movement’s total capital ratio increased from 10.0% in July to 10.1% in August. Total capital in US dollars increased 1.0% to $ 206.7 billion.