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April CU Trends Report from CUNA Mutual is Now Available
Wednesday, May 4, 2016 6:30 AM

The April issue of the Credit Union Trends Report is out, produced monthly by the CUNA Mutual Group and its Chief Economist, Steve Rick.

The newly released edition, based on February 2016 data, shows that the nation's credit unions increased their loan portfolios by 0.3 percent in February, equal to the 0.3 percent pace reported in February 2015.

Loan balances are up 10.4 percent during the last 12 months. With loan balances growing faster than savings, credit union liquidity is tightening up; the credit union average loan-to-savings ratio reached 76.8 percent, up from 73.5 percent in February 2015.

At the same time, credit union loan delinquency rates fell to 0.75 percent in February, the long run average, from 0.80 percent in January due to tax refunds and bonuses allowing some members to catch-up on late loan payments.

Steve Rick's latest economic forecasts has 2016 economic growth at 2.5 percent and 2017 at 2.75 percent, even though economic growth in the first quarter may be close to zero due to an inventory correction.

Inflation in 2016-2017 will rise above the Fed's official target of 2 percent due to rising oil prices, the falling dollar, and rising wages. The unemployment rate will decline to 4.5 percent by year-end 2017.

Access the Credit Union Trends Report.