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Home, personal and auto loans led growth in January | 2022-03-22

Overall, credit union loans outstanding increased 0.7% in January 2022, compared with a 0.9% increase in December 2021 and a 0.09% decrease in January 2021, according to the latest CUNA Credit union monthly estimates.

Home equity led to rising loan growth during the month (1.9%), followed by unsecured personal loans (1.6%), other loans (1.5%), fixed rate mortgages (1.0%), loans for used cars (0.9%), and new car loans (0.3%). For the month, adjustable rate mortgages (-1.6%), other mortgage loans (-1.2%) and credit card loans (-0.6%) declined.

Credit union savings decreased by -0.1% in January, compared with a 1.4% increase in December 2021 and a 0.7% increase in January 2021. Money market accounts led savings growth over the month, rising up 0.8%, followed by regular shares (up 0.8%). Share certificates (-2.9%), one-year certificates (-0.5%) and individual pension accounts (-0.4%) all declined.

Credit union arrears of more than 60 days remained at 0.5% in January. Liquidity The loan-to-savings ratio increased to 70.9% in January 2022, compared to 70.4% in December 2021. The liquidity ratio (the ratio of excess funds maturing in less than one year to loans plus other liabilities ) fell from 19% in December 2021 to 18.4% in January 2022.

Total credit union membership fell 0.07% to 131.8 million in January. Capital The movement’s total capital-to-assets ratio fell to 9.8% in January, from 9.9% in December. Total principal in dollar terms decreased -1.2% to $206.6

Richard Dement

The author Richard Dement