WASHINGTON–New data show outstanding loans at credit unions decreased by 0.38% in August, compared to a 0.26% increase in July and a 0.48% increase in August 2024, according to America’s Credit Unions latest Monthly Credit Union Estimates.
America’s Credit Unions reported that leading loan growth during the month were unsecured personal loans (0.98%), credit cards (0.40%), second mortgages (0.37%), auto loans (0.18), and secured personal loans (0.11%).
Declining Loans
On the decline were home equity lines of credit (-1.59%), first mortgages (-1.03%), and private student loans (-.93%), America’s Credit Unions said.
The trade group explained that monthly Credit Union Estimates are 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.
For more info, go to the Data and Tools section of America’s Credit Unions website.
