MCUE: Loans from credit unions increased by 1% in June | 2021-08-18

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Outstanding loans to credit unions rose 1.0% in June, compared to an increase of 0.8% in May and an increase of 0.7% in June 2020, according to the latest monthly estimates from credit unions of CUNA.

Unsecured personal loans led loan growth in the month, up 4.3%, followed by variable rate mortgages (2.3%), fixed rate mortgages (1.8%) , used car loans (1.2%), home equity loans (1.2%). credit card loans (0.6%) and other mortgage loans (0.4%).

New auto loans fell 1.1% in the month.

Credit union savings balances increased 0.03% in June, compared to a 0.5% decline in May 2021 and an increase of 1.0% in June 2020.

Money market accounts led savings growth in the month with an increase of 1.2%, followed by common stocks (0.9%) and individual retirement accounts (0.7%). Down over the month, share drafts (-1.5%) and one-year certificates (-1.3%).

Credit union delinquency over 60 days remained at 0.4% in June.

The loan / savings ratio fell from 69.5% in May to 70.1% in June. The liquidity ratio (the ratio of funds in excess of less than one year to borrowings and other liabilities) fell from 21.7% in May to 19.9% ​​in June.

The total number of credit union memberships rose 0.1% in June to 129.2 million.

The movement’s overall capital-to-assets ratio remained at 10.0% in June. The total dollar capital amount increased 1.1% to $ 201.4 billion.


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