MCUE: CU loan balances increased 1% in August | 2021-10-27

Monthly estimates from CUNA’s credit unions in August show an increase in members’ savings balances and outstanding loans.

Credit union loan balances increased 1.0% in August, compared with an increase of 0.8% in July 2021 and an increase of 0.3% in August 2020. Fixed rate mortgages increased led loan growth for the month, up 1.4%, followed by unsecured personal loans. loans (1.3%), used auto loans (1.2%), credit card loans (0.9%) and home equity loans (0.1%).

Down over the month, other mortgage loans (-1.3%), mortgage loans at adjustable rates (-0.8%) and new car loans (-0.1%).

Credit union savings balances rose 0.1% in August, compared with an increase of 1.2% in July 2021 and an increase of 0.3% in August 2020. Money market accounts led the way. savings growth during the month, up 1.7%, followed by common stocks (0.2%).

Down over the month, share drafts (-1.1%), one-year bills (-0.9%) and individual retirement accounts (-0.1%).

Credit union delinquency over 60 days remained at 0.5% in August.

The loan / savings ratio fell from 69.9% in July to 70.4% in August. The liquidity ratio (the ratio of funds in excess of less than one year to borrowings and other liabilities) fell from 22.0% in July to 21.7% in August.

The total number of credit union memberships rose 0.2% in August to 130.2 million.

The movement’s overall capital / asset ratio fell from 10.0% in July to 10.1% in August. The total amount of dollar capital increased 1.0% to $ 206.7 billion.