Credit union loans outstanding increased 0.04% during September 2011—their sixth-consecutive month of positive loan growth, according to CUNA’s economics and statistics department.
Fixed-rate mortgages led loan growth with a 2.2% increase, followed by used auto loans, 0.3%, and unsecured personal loans, 0.1%.
On the decline were adjustable-rate mortgages (-2.2%), home equity and new auto loans (both -0.6%), and credit card loans.
On the savings front, credit union savings balances increased 1.4% in September, compared to a 0.5% decrease in August.
Share drafts grew 8%, followed by regular shares, 1.4%, individual retirement accounts 0.7%, and money market accounts, 0.4%. One-year certificates declined 0.5%.
Other measures in September:
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A U.S. District judge Monday dismissed three lawsuits--including one by the National Credit Union Administration--brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities.