Credit union loans outstanding rose 0.8% in May, up from a 0.6% increase in April 2021 and 1.1% in May 2020, according to the latest CUNA data. Credit Union Monthly Appraisal… Credit card loans boosted loans during the month, increasing by 2.0%, followed by used car loans (1.4%), fixed rate mortgages (0.8%), new car loans (0.5% ), home loans and unsecured personal loans (both rose 0.4%).
Adjustable rate mortgage loans (-0.5%) and other mortgage loans (-0.4%) declined during the month.
Credit union savings balances declined -0.5% in May, compared with an increase of 1.7% in April 2021 and 2.5% in May 2020. Money market accounts boosted savings during the month, rising 1.1%, followed by individual retirement accounts (0.2%) and common stock (0.01%).
During the month, spending on shares (-3.0%) and one-year certificates (-1.2%) decreased.
Credit union delinquencies for 60+ days remained at 0.5% in May.
The loan-to-savings ratio increased from 68.6% in April to 69.5% in May. The liquidity ratio (the ratio of excess funds with maturity less than one year to loans and other liabilities) decreased from 23.1% in April to 21.7% in May.
The total number of credit union members rose 0.2% in May to 128.7 million.
The capital to assets ratio of the movement in May remained at the level of 9.8%. Total USD capital increased by 1.1% to USD 199.3 billion.