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Home » Credit union loans outstanding increased 0.6% in April
CU System

Credit union loans outstanding increased 0.6% in April

June 15, 2021
2020-03-econimicforecast_117475

Credit union loans outstanding increased 0.6% in April, compared to a 0.1% increase in March of 2021 and a 0.3% increase in April of 2020, according to CUNA’s latest Monthly Credit Union Estimates.

Adjustable-rate mortgages led loan growth during the month, rising 1.2%, followed by fixed-rate mortgages and home equity loans (both rising 0.9%), used auto loans (0.6%), and other mortgage loans (0.04%).

Unsecured personal loans (-1.9), credit card loans (-1.0%), and new auto loans (-0.2%) declined during the month.

Credit union savings balances increased 1.7% in April, compared to a 4.4% increase in March of 2021 and a 4.6% increase in April of 2020. Share drafts led savings growth during the month, rising 5.9%, followed by money market accounts (2.0%), and regular shares (1.3%).

On the decline during the month were one-year certificates (-1.5%) and individual retirement accounts (-0.4%).

Credit unions’ 60+ day delinquency remained at 0.5% in April.

The loan-to-savings ratio decreased from 69.2% in March to 68.4% in April. The liquidity ratio (the ratio

of surplus funds maturing in less than one year to borrowings plus other liabilities) increased from 22.5% in March to 22.6% in April.

Total credit union memberships grew 0.2% during April to 128.1 million.

The movement’s overall capital-to-asset ratio remained at 9.8% in April. The total dollar amount of capital increased by 1.1% to $197.6 billion.

Credit Union Magazine: Summer 2023

Summer 2023

Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
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