Credit union loans outstanding increased 0.5% in February

Credit union loans outstanding increased 0.5% in February, compared to a 0.6% increase in January 2022, and a 1.0% increase in February 2022, according to CUNA's latest Monthly Credit Union Estimates. 

Home equity loans led loan growth, rising 1.5% followed, by adjustable-rate mortgage loans (1.1%), other mortgage loans (1.1%),
unsecured personal loans (0.8%), used auto loans (0.5%), other loans (0.4%), fxed-rate mortgage loans (0.3%), and new auto loans (0.2%). 

On the decline were credit card loans (-0.4%).

Credit union savings balances increased 1.1% in February, compared to a -0.9% decrease in 2022, and a 1.6% increase in February 2022. On the rise were oneyear certificates rising 6.1% followed by individual retirement accounts (2.5%), share drafts (2.4%), and regular shares (0.0%). On the decline were money market accounts (-1.9%).

Credit unions’ 60+ day delinquency increased to 0.7% in February.

The loan-to-savings ratio decreased slightly to 82.1% in February compared to 82.7% in December. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) increased to 11.5% in February compared to  11.1% in January.

Total credit union memberships increased 0.1% in February to 138.1 million.

The movement’s overall capital-to-asset ratio decreased to 8.8% in February compared to 9.1% in January. 

The total dollar amount of capital decreased -2.0% to $195.3 billion.