Outstanding loans from credit unions increased 1.0% in December, compared with a 0.6% increase in November 2021 and a 0.2% increase in December 2020, according to CUNA’s latest Monthly Credit Union Estimates.
Unsecured personal loans led to rising loan growth for the month (2.6%), followed by credit card loans (2.3%), fixed rate mortgages (2.0%), home equity loans (1.2%) and adjustable rate mortgages (1 .0%). ), used car loans (0.7%) and new car loans (0.3%). During the month, other loans (-1.8%) and other mortgage loans (-0.6%) fell.
Credit union savings rose 1.4% in December, compared with a 0.1% increase in November 2021 and a 1.9% increase in December 2020. Draft shares led savings growth over the month, rising 3 .5%, followed by money market accounts (1.4%). One-year certificates declined (-0.5%).
Credit union arrears of more than 60 days remained at 0.5% in December, unchanged from November last year.
The loan-to-deposit ratio fell to 70.4% in December from 70.7% in November. The liquidity ratio (the ratio of excess funds with a maturity of less than one year to loans and other liabilities) fell to 18.7% in December from 19.1% in November.
Total credit union membership rose 0.2% to 131.8 million in December.
The movement’s overall asset-to-assets ratio remained at 10.0% in December, unchanged from last month. Total capital in dollars grew by 0.71% to $209.1 billion.