MCUE: outstanding loans increased by 0.8% in May | 2021-07-20

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Outstanding loans to credit unions rose 0.8% in May, compared to an increase of 0.6% in April 2021 and an increase of 1.1% in May 2020, according to the latest CUNA report. Monthly estimates from credit unions. Credit card loans led loan growth for the month, up 2.0%, followed by used auto loans (1.4%), fixed rate mortgages (0.8 %), new auto loans (0.5%), home equity loans and unsecured personal loans (both increasing 0.4%.

Variable rate mortgages (-0.5%) and other mortgages (-0.4%) declined during the month.

Credit union savings balances fell 0.5% in May, compared to an increase of 1.7% in April 2021 and an increase of 2.5% in May 2020. Money market accounts led savings growth over the month, increasing 1.1%, followed by individual retirement accounts. (0.2%) and regular actions (0.01%).

Down during the month, share drafts (-3.0%) and one-year certificates (-1.2%).

Credit union delinquency over 60 days remained at 0.5% in May.

The loan / savings ratio fell from 68.6% in April to 69.5% in May. The liquidity ratio (the ratio of funds in excess of less than one year to borrowings and other liabilities) fell from 23.1% in April to 21.7% in May.

The total number of credit union memberships rose 0.2% in May to 128.7 million.

The movement’s overall capital-to-asset ratio remained at 9.8% in May. Total dollar capital increased 1.1% to $ 199.3 billion


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