May 18, 2022

Personal loans and credit cards lead loan growth in December | 2022-02-11

Credit union loans outstanding rose 1.0% in December, compared to a 0.6% increase in November 2021 and a 0.2% increase in December 2020, according to the latest monthly estimates from credit unions. CUNA credit.

Unsecured personal loans led loan growth during the month (2.6%), followed by credit card loans (2.3%), fixed rate mortgages (2.0%), home equity loans (1.2%), adjustable rate mortgages (1.0%). ), used car loans (0.7%) and new car loans (0.3%). Down over the month, other loans (-1.8%) and other mortgages (-0.6%).

Credit union savings balances increased 1.4% in December, compared to a 0.1% increase in November 2021 and a 1.9% increase in December 2020. Equity drafts increased led the growth in savings during the month, up 3.5%, followed by money market accounts (1.4%). Down, one-year certificates (-0.5%).

Delinquencies over 60 days from credit unions remained at 0.5% in December, as in November.

The loan-to-savings ratio fell to 70.4% in December from 70.7% in November. The liquidity ratio (the ratio of excess funds maturing in less than a year to borrowings plus other liabilities) declined from 19.1% in November to 18.7% in December.

The total number of credit union memberships rose 0.2% in December to 131.8 million.

The movement’s overall capital-to-asset ratio remained at 10.0% in December, like last month. Total dollar capital increased 0.71% to $209.1 billion.