TruStage’s August 2024 Credit Union Trends Report
MADISON, WI (September 16, 2024) — 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™.
August 2024
- Long term interest rates fell by 83 basis points since April, boosting interest rate sensitive sectors of the economy.
- Credit union loan balances grew at a 3.0% seasonally adjusted, annualized growth rate in June, less than half the 6.6% pace set in June 2023.
- Certificate of deposit balances now make up 28% of all credit union deposits, double the share from 2021 and the highest since 2009.
- Credit union memberships should exceed 144 million by the fourth quarter of 2024.
View Trends Report
View Trends Report Executive Summary
About TruStage
TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.
TruStage™ is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis.
