Credit union loans outstanding increased 0.1% during May 2010, compared to a decrease of 0.1% during April 2010, according to the Credit Union National Association’s economics and statistics department.
Fixed-rate mortgages led loan growth, increasing 0.9%, followed by credit card loans and used auto loans, which increased 0.8% and 0.6%, respectively.
Unsecured personal loans increased 0.4%, while both adjustable-rate mortgages and home equity loans increased 0.2%. New auto loans outstanding decreased 1.5%.
On the other side of the balance sheet, credit union savings balances decreased 0.1% during May 2010, compared to a 1.1% increase during April 2010.
Individual retirement accounts grew 1.7%, followed by money market accounts (0.9%) and regular shares (0.2%). One-year certificates and share drafts decreased 0.8% and 2.3%, respectively.
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