Credit union loans and memberships continue to grow at historically high rates, based on the results CUNA's September Monthly Credit Union Estimates.

Credit union loans outstanding grew 0.7% in September, compared with a 1.1% increase in August. Unsecured personal loans led loan growth during the month, rising 2.4%, followed by fixed-rate mortgages (1.4%), other mortgage loans (1.3%), new auto loans (1.1%), used auto loans (0.6%), credit card loans (0.1%), and home equity loans (0.01%).

“We have seen tremendous growth in auto loans and mortgages, but we’re also now seeing the fastest growth in personal loans in decades,” said Jordan van Rijn CUNA senior economist. “This is a good indication that the economy is doing well and consumer confidence is high.”

Total credit union memberships grew 0.4% during September to 113.2 million.

Credit union savings balances increased 1% in September, compared with a 0.1% increase in August. Share drafts led savings growth during the month, rising 3.8%, followed by regular shares (1%), individual retirement accounts (0.3%), and one-year certificates (0.2%).

“As deposit rates increase, we are seeing more savings at credit unions,” van Rijn said. ”For example, certificates of deposit (CDs) have grown at the fastest rate since 2007. This is also a good sign that wealth is being created in the economy, as opposed to during the recession when CD growth was negative.”

The loan-to-savings ratio declined to 82.1% in September from 82.3% in August. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowing plus other liabilities) increased to 14.8% in September from 13.7% in August.

The movement’s overall capital-to-asset ratio declined to 10.7% in September from 10.8% in August.