CU New Auto Loans Decline 1.8% During December

Credit unions’ new auto loans outstanding decreased 1.8% during December, part of an overall 0.2% decline in loans, reports CUNA’s economics and statistics department.

Also on the decline were adjustable-rate mortgages (-1%) and home equity loans (-0.1%).

Credit card outstandings grew 1.5%, as did fixed-rate mortgages, 1%, unsecured personal loans, 0.7%, and used auto loans, 0.3%.

Credit union savings balances grew 0.6% in December compared to a 0.5% decrease during November. Share drafts led savings growth, increasing 2.8%, followed by regular shares (0.9%), money market accounts (0.3%), and individual retirement accounts (0.3%)

One-year certificates declined 0.3%.

Other measures during December:

• Asset quality: Credit unions’ 60+ day delinquency rate decreased slightly to 1.7%;
• Liquidity: The loan-to-savings ratio decreased slightly to 72%, and the liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) remained at 19%; and
• Capital: The movement’s overall capital-to-asset ratio remained at 10%. The total dollar amount of capital is $93 billion.

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