Savings growth outpaced loan growth in March, according to CUNA’s latest Monthly Credit Union Estimates, resulting in an average loan-to-share ratio of 81.65% in March down from 82.12% in February. Credit unions’ liquidity has been generally increasing since last summer.
According to the CUNA’s February Monthly Credit Union Estimates, the pace of credit union loan growth slowed slightly registering 0.22%, down from 0.33% in January. The pandemic has put the brakes on economic growth, so this pace of growth is not expected to continue.
Credit union loans outstanding grew 0.6% in July, compared to a 0.7% increase in June, according to CUNA’s Monthly Credit Union Estimates for July. Other mortgages led loan growth during the month, rising 1.6%.
Credit union membership and loan growth weakened in January, but year-over-year membership and loan growth rates remain a strong 4.23% and 8.99% respectively, according to CUNA’s latest Monthly Credit Union Estimates.