Credit Union Loans Increased 1% in June

Credit union loans outstanding increased 1.0% in June, compared to a 0.8% increase in May and a 0.7% increase in June 2020, according to CUNA’s latest Monthly Credit Union Estimates.

Unsecured personal loans led loan growth during the month, rising 4.3%, followed by adjustable-rate mortgages (2.3%), fixed-rate mortgages (1.8%), used auto loans (1.2%), home equity loans (1.2%), credit card loans (0.6%), and other mortgage loans (0.4%).

New auto loans declined 1.1% during the month.

Credit union savings balances increased 0.03% in June, compared to a 0.5% decrease in May of 2021 and a 1.0% increase in June of 2020.

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