CUNA Mutual Group has released its October 2019 Credit Union Trends Report, compiled with data from August.
The Credit Union Trends Report is a monthly “pulse check” on the state of the credit union marketplace, often placed in a historical context. The report includes data from two months prior and is published and distributed by Steven Rick, chief economist for CUNA Mutual Group. The Trends Report is intended to provide a review and analysis of recent credit union financial performance and operational results in the context of recent economic activity. Data and analysis are provided to establish standards against which credit unions’ own performance can be compared.
In the most recent report, CUNA Mutual Group found:
- credit union loan balances rose 1% in August, above the 0.8% pace set in August 2018;
- the credit union share of the first mortgage originations market fell to 8.2% in the first half of 2019, down from 8.8% during the first half of 2018;
- savings balances grew at a 9.1% seasonally adjusted, annualized growth rate in August, due to high share certificate rates, volatile equity markets, and cash out mortgage refinances being deposited in saving accounts.
To view the full report, click here.