Latest credit union estimates show loans grew 0.5% in June

by America's Credit Unions

Credit union loans outstanding increased 0.5% in June, compared to a 0.5% increase in May of 2024 and a 0.7% increase in June 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates. Estimates are based on information from a monthly sample of credit unions and are revised whenever more complete data is available.

Other mortgage loans led loan growth during the month rising 3.7%, followed by adjustable-rate mortgages (3.0%), home equity loans (1.3%), unsecured personal loans (1.3%), and credit card loans (0.8%).

On the decline were new auto loans (-0.2%), used auto loans (-0.2%), and fixed rate mortgages (-0.3%).

Credit union savings balances declined -0.03% in June, compared to a 0.9% increase in May of 2024 and a 0.6% increase in June of 2023.

 

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