Existing credit union loans increased 1.0% in October, compared to a 0.6% increase in September 2021 and a 0.2% increase in October of 2020, according to CUNA’s latest monthly credit union estimates.
Other mortgage loans led loan growth during the month, up 3.2%, followed by unsecured personal loans (2.8%), home equity loans (1.4%), credit card loans (1.2%), and fixed-rate mortgages (1.0%). ), adjustable. Real estate loans (0.9%) and used car loans (0.6%).
New car loans decreased during the month (-0.7%).
Credit union savings balances increased 1.0% in October, compared to a 0.8% increase in September of 2021 and a 1.7% increase in October of 2020. Stock drafts led to savings growth during the month, up 1.5%, followed by money market accounts (1.2%) and common stock (1.0%).
Individual retirement accounts (-0.6%) and one-year certificates (-0.4%) saw declines during the month.
Credit unions overdue for more than 60 days remained at 0.5% in October.
The loan to savings ratio remained at 70.3% in October. Liquidity ratio (the ratio of excess funds maturing in less than a year to borrowing plus other liabilities) increased from 21.0% in September to 21.3% in October.
Total credit union membership increased 0.1% during the month of October to 130.7 million.
The movement’s total capital to assets ratio decreased from 10.1% in September to 9.9% in October. Total dollar capital grew by 0.05% to $206.9 billion