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.
Credit Union Magazine’s special 2020 Credit Union Rock Stars edition celebrates creative, innovative, and passionate professionals and volunteers working to advance the missions of their credit unions.