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Get the Latest Credit Union Trends Report
Friday, October 16, 2015 6:35 AM

Have you seen the latest Trends Report from CUNA Mutual Group? The Credit Union Trends Report is a monthly "pulse check" on the state of the credit union marketplace, often placed in a historical context.

Here are this month's highlights:

  • During July, credit unions picked up 463,000 in new memberships, loan balances grew at a 10.4 percent annualized pace, savings balances surged 1.0 percent due to the end of the month falling on a payroll Friday, firms hired 245,000 workers, nominal consumer spending increased a moderate 0.3 percent, and long-term interest rates fell 4 basis points. Second quarter economic growth was revised to 3.7 percent, better than the 0.6 percent in Q1.
  • At the end of July, CUNA’s monthly estimates reported 6,330 CUs in operation, down 48 CUs from one month earlier. Year-over-year, the number of credit unions declined by 328, more than the 244 lost in the 12 months ending in July 2014.
  • Total credit union assets rose 1.0 percent in July as credit unions received a 6 percent surge in share draft deposits due to a payroll Friday on July 31. Assets rose 6.7 percent during the past year due to a 6.7 percent increase in deposits, a 4 percent increase in borrowings, and a 7.8 percent increase in capital.
  • The nation’s credit unions increased their loan portfolios by 1.0 percent in July, slightly less than the 1.3 percent pace reported in July 2014, and 10.6 percent during the last 12 months. July is historically the 4th fastest loan growth month due to seasonal factors: car purchases and vacation spending.
  • Credit union memberships rose a robust 0.45 percent in July, up from a 0.20 percent gain reported in July 2014, the fastest monthly growth rate since July 2013. Memberships are up 3.6 percent over the past year due to rapid job creation and strong demand for new and used auto loans.
  • Credit union loan delinquency rates fell to 0.64 percent in July, down from 0.83 percent one year earlier due to a stronger economy and double digit loan growth. As the labor market approaches full employment and the unemployment rate falls, the delinquency rate will decline below 0.6 percent.

Learn more here.