Rates & Ratios: Mortgages Lead Loan Growth
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.
- Credit unions’ 60+ day delinquencies remained at 1.8%;
- Credit unions’ loan-to-savings ratio remained at 73%. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) remained at 19%; and
- The movement’s overall capital-to-asset ratio remained at 10%. The total dollar amount of capital is $91 billion.