Outstanding loans to credit unions increased 1.0% in October, compared to an increase of 0.6% in September 2021 and an increase of 0.2% in October 2020 according to the latest monthly estimates from credit unions of CUNA.
Other mortgages led loan growth in the month, up 3.2%, followed by unsecured personal loans (2.8%), home equity loans (1.4%), home loans. on credit cards (1.2%), fixed rate mortgages (1.0%), adjustable mortgage loans at reduced rates (0.9%) and used car loans (0.6%) .
On the decline during the month, new auto loans (-0.7%).
Credit union savings balances rose 1.0% in October, compared with an increase of 0.8% in September 2021 and an increase of 1.7% in October 2020. Stock drafts led the growth savings during the month, up 1.5%, followed by money market accounts (1.2%), and regular stocks (1.0%).
Individual retirement accounts (-0.6%) and one-year certificates (-0.4%) were down during the month.
Credit union delinquency over 60 days remained at 0.5% in October.
The loan / savings ratio remained at 70.3% in October. The liquidity ratio (the ratio of funds in excess of less than one year to borrowings and other liabilities) fell from 21.0% in September to 21.3% in October.
The total number of credit union memberships rose 0.1% in October to 130.7 million.
The movement’s overall capital-to-assets ratio fell from 10.1% in September to 9.9% in October. Total amount of equity increased 0.05% to $ 206.9 billion