CU Data

Used-Auto Loans Fuel Growth

CU loans outstanding increased 0.3% during August 2010.

October 05, 2010
KEYWORDS auto , credit , loans , mortgages
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Credit union loans outstanding increased 0.3% during August 2010 led by used-auto loans, according to the Credit Union National Association’s economics and statistics department.

Used-auto loans led the growth, increasing 1%, followed by unsecured personal loans and credit card loans, which increased 0.8% and 0.7%, respectively.

Fixed-rate mortgages increased 0.5%, adjustable-rate mortgages grew 0.4%, and home equity loans increased 0.3%. New auto loans, however, decreased 1.3%.

Savings

Credit union savings balances decreased 0.7% in August 2010 compared with a 0.7% increase during July 2010.

Share drafts decreased 4.5%, as did regular shares (0.5%), one-year certificates, and money market accounts (which both decreased 0.2%).

Individual retirement accounts grew 0.2% during August.

Other August measures include:

  • Asset quality: Credit unions’ 60+-day delinquencies decreased slightly to 1.7%;
  • Liquidity: The loan-to-savings ratio remained at 73%. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) decreased slightly to 18%; and
  • Capital: The movement’s overall capital-to-asset ratio remained at 10%. The total dollar amount of capital is $92 billion.

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