The Credit Union Trends Report is a monthly "pulse check" on the state of the credit union marketplace, often placed in a historical context. The report includes data from two months prior and is published and distributed by Steven Rick from TruStage™.
February 2024
- The personal savings rates averaged only 4.5% in 2023, below the 6% long run average, creating a headwind for credit union deposit growth.
- Real home prices rose only 1% in 2023, the second year of a home price downcycle.
- Household debt burdens, as measured by residential mortgages and consumer credit as a percentage of disposable personal income, fell to 88.1% in the third quarter of 2023, down from 91.7% in the third quarter of 2022.
- The housing market closed 2023 on a weaker note as existing home sales fell 1% to a 3.78 million seasonally adjusted annual rate in December from November and fell 6% from December 2022.