Skip to main content

Credit unions on track for double digit loan growth.

Lending growth highlighted CUNA’s October Monthly Credit Union Estimates, with credit union loan portfolios on track for the fourth straight. year of double-digit growth. 

 “This would be the first time that has happened since the 1980s when loans grew in the double-digits for six straight years,” said Jordan van Rijn, CUNA senior economist. 
“The tremendous loan growth continues to be fueled by high demand for auto loans; car loans have already grown over 11% this year, representing the fifth straight year of double-digit auto loan growth,” van Rijn said. 

Credit union savings balances declined 0.4% in October, compared with a 1.1% increase in September. One-year certificates led savings growth during the month with a 1.3% increase. 

 “We often see deposits and savings balances fall this time of year as members gear up for holiday-related expenses,” van Rijn said. “This year is no exception as member savings, shares, money market accounts and IRAs all decreased in October.” 

 The loan-to-savings ratio increased to 83.1% in October from 82.1% in September. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) decreased to 13.8% in October from 14.6% in September. 
Total credit union memberships grew 0.2% during October to 113.4 million. “Although October saw the slowest membership growth since January, overall credit union memberships are still on pace to grow at the fastest rate since the 1980s,” van Rijn said. 

Credit unions’ 60-plus day delinquency remained at 0.8% in October. 

 The credit union system’s overall capital-to-asset ratio increased to 10.8% from 10.7% in September. The total dollar amount of capital increased 0.7% to $149.9 billion.

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Both Sides of The Desk!

With over 50 years of experience in the credit union sector, I have had the privilege of observing and participating in its evolution from various vantage points. My journey has taken me from serving as a dedicated volunteer holding critical leadership roles, including serving on the supervisory committee, as director, and as board chairman, culminating in my tenure as CEO for 12 years and now founder and President/CEO of the National Council of Firefighter Credit Unions . This extensive background has enabled me to " Sit On Both Sides Of The Desk ," blending operational expertise with strategic oversight. In this blog post, I want to share how this dual perspective has enriched my understanding of credit union dynamics and fostered more effective governance. By leveraging the insights gained from years spent navigating both the intricacies of daily operations and the broader strategic objectives, I have witnessed firsthand the transformative power of collaboration, communi...
Post a Comment
Read Complete Article HERE>»

Unlocking the Power of Emeritus Board Positions in Credit Unions

  Explore how the Emeritus Board Position in credit unions honors long-serving members, offering them a chance to mentor new leaders while maintaining strategic influence without the responsibilities of active board roles.
Post a Comment
Read Complete Article HERE>»

How To Make Decisions With Conviction—Even Under Pressure

Why strong leaders act when others hesitate — and how to develop that confidence without needing every answer. I’ve watched smart, experienced leaders freeze. And I’ve been in that same position myself. It’s not because we lack information, but because we don’t feel ready to choose. Leaders often get stuck because they’re waiting for the perfect moment to act. They’re thinking through the consequences, weighing the trade-offs, trying to get it right. But the longer they wait, the harder it becomes to move at all. The truth is that the worst decision isn’t always the wrong one. It’s the one you never make. If you’re in a leadership role, you don’t always get the luxury of knowing. You have to move anyway. Not recklessly, not blindly, but with clarity, purpose and conviction. In high-pressure moments, the gap between average leaders and great ones gets exposed. It’s not a gap in intelligence or experience. It’s a gap in decisiveness. Because conviction doesn’t mean certainty—it means mak...
Post a Comment
Read Complete Article HERE>»

Fed Kicks Off Two-Days of Meetings Today as Critics, Proponents Respond to Rate Increases; Plus, What CUs Should Expect

CUToday WASHINGTON–The Federal Reserve’s Open Market Committee (FOMC) will kick off two days of meetings today and the decision they announce tomorrow will affect everything from the major U.S. markets to credit unions that are seeing strong loan growth to individual credit union members struggling with monthly bills. The FOMC is widely expected to again raise its benchmark rate as it seeks to cool raging inflation. Among those expecting rates to be higher by Wednesday afternoon is CUNA’s chief economist, Mike Schenk, who expects the Fed will push up rates by 75 basis points. That follows the full one percentage point increase made during the Fed’s July meeting. “That’s pretty substantial, but inflation is over 9%,” said Schenk...
Post a Comment
Read Complete Article HERE>»

Live - Podcast Understanding The Importance P&L Statements

A Weekly Dose of Innovation for Credit Unions Serving First Responders Welcome to the NCOFCU Podcast: Your Weekly Dose of Innovation. Hosted by Grant Sheehan CCUE | CCUP | CEO, NCOFCU, this podcast is your definitive source for the latest news, insights, and trends in the first responder credit union world.
Post a Comment
Read Complete Article HERE>»