WASHINGTON–With the exception of one loan category, lending was down at credit unions in February from one month earlier, according to the Monthly Credit Union lending Estimates compiled and released by America’s Credit Unions.
The only category to see an increase: home equity loans, which increased to $108.8 billion in outstanding balances from $107.8 billion. Second mortgages were down to $48.7 billion from $48.8 billion.
The data being reported by America’s Credit Unions show total loans declined to $1.406 billion in February, down from $1.410 billion in January.
Auto loans, credit cards, secured personal loans, unsecured personal loans and private student loans were all down.
Year-to-date growth through February showed overall lending had declined 0.04%. The YTD data show:
- All mortgage: 0.25%
- 1st Mortgage: -0.19%
- 2nd mortgage 0.80%
- HELOC: 2.26%
- All non-mortgage: 0.33%
- Auto loans: -0.27%
- Credit cards: -0.47%
- Secured personal loans: -1.19%
- Unsecured personal loans 0.06%
- Private student loans 0.45%
- Other loans 0.99%
The data show all of the categories were up from one year earlier.
