Overall credit union loan outstandings increased by 0.7% in January 2022, compared to an increase of 0.9% in December 2021 and a decrease of 0.09% in January 2021, according to the latest report from CUNA . Credit union monthly estimates.
Home equity loans led loan growth during the month (1.9%), followed by unsecured personal loans (1.6%), other loans (1.5%), interest rate mortgages fixed (1.0%), used car loans (0.9%). and new car loans (0.3%). Adjustable rate mortgages (-1.6%), other mortgages (-1.2%) and credit card loans (-0.6%) declined during the month.
Credit union savings balances decreased -0.1% in January, compared to a 1.4% increase in December 2021 and a 0.7% increase in January 2021. Money market accounts led the growth in savings during the month, up 0.8%, followed by common stocks (0.8%). Down were equity drafts (-2.9%), one-year certificates (-0.5%) and individual retirement accounts (-0.4%).
Credit unions’ 60+ day delinquencies remained at 0.5% in January. Liquidity The loan-to-savings ratio increased to 70.9% in January 2022 from 70.4% in December 2021. The liquidity ratio (the ratio of excess funds maturing in less than one year over borrowings plus other liabilities) fell from 19% in December 2021 to 18.4% in January 2022.
Total credit union memberships fell 0.07% in January to 131.8 million. Capital The movement’s overall capital-asset ratio rose from 9.9% in December to 9.8% in January. Total principal dollar amount decreased -1.2% to $206.6