Credit union loans outstanding decreased 0.7% during January 2011, compared to a 0.1% decline in December 2010, according to CUNA’s economics and statistics department.
Leading the decline were credit cards (-2%), new auto loans (-1.5%), fixed-rate mortgages (-1.2%), unsecured personal loans (-0.7%), and used auto loans (-0.3%).
Adjustable-rate mortgages and home equity loans each decreased about 0.1%.
Credit union savings balances fell 0.2% in January 2011 compared to a 0.5% increase during December 2010. Money market accounts and regular shares increased, while share drafts, individual retirement accounts, and one-year share certificates experienced declines.
Other measures during January: