According to the latest data from CUNA, outstanding credit union loans increased 0.6% in April, compared with a 0.1% increase in March 2021 and 0.3% in April 2020. Credit Union Monthly Appraisal…
Adjustable rate mortgage loans boosted loans during the month, increasing by 1.2%, followed by fixed rate mortgages and home equity loans (both increased 0.9%), used car loans (0 , 6%) and other mortgage loans (0.04%).
Unsecured loans to individuals (-1.9), credit card loans (-1.0%) and new car loans (-0.2%) declined during the month.
Credit union savings surged 1.7% in April, compared with a 4.4% increase in March 2021 and 4.6% in April 2020. Savings growth was led by the promissory note fund during the month, rising 5.9%, followed by money market accounts (2.0%) and common stocks (1.3%).
The decrease during the month was made by annual certificates (-1.5%) and individual pension accounts (-0.4%).
Credit union delinquencies for 60+ days in April remained at 0.5%.
The loan-to-savings ratio fell from 69.2% in March to 68.4% in April. Liquidity ratio (ratio
excess funds with a maturity of less than one year (borrowed funds plus other liabilities) increased from 22.5% in March to 22.6% in April.
The total number of credit union members rose 0.2% in April to 128.1 million.
The capital-to-asset ratio remained at 9.8% in April. The total dollar amount of capital increased by 1.1% to $ 197.6 billion.