WASHINGTON–Credit unions’ share of the consumer credit market continues to slide at mid-year even as loans outstanding at credit unions grew, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.
Outstanding loans were up 0.38% in June, compared to a 0.48% increase in May and a 0.17% increase in June of 2024, according to the America’s Credit Unions’ data.
As the chart at left shows, credit unions held 15.04% of the consumer credit market in July of 2024, a figure that has declined to 14.59% in the latest numbers.
The Monthly Credit Union estimates show performance by loan category included:
- Home equity lines of credit (1.45%),
- Credit cards, (0.87%),
- Second mortgages (0.73%),
- First mortgages (0.33%),
- Secured personal loans (0.32%),
- Unsecured personal loans (0.23%); and
- Auto loans (0.1%).
Private student loans declined 0.77%.
America’s Credit Unions said the analysis is based on data generated from the Equifax Analytics Dataset, an anonymized random sample of credit report data that tracks 10% of all U.S. consumers with a Social Security number.
Additional data and metrics are available here.
