WASHINGTON–Outstanding loans at credit unions increased 0.26% in July, compared to a 0.38% increase in the previous month and a 0.2% decrease in July 2024, according to America’s Credit Unions’latest Monthly Credit Union Estimates.
The strongest loan categories were:
- Home equity lines of credit (1.89%)
- Second mortgages (1.11%)
- Credit cards (0.79%)
- Unsecured personal loans (0.47%)
- Secured personal loans (0.26%)
- Auto loans (0.1%).
First mortgages (-0.12%) and private student loans (-0.75%), the Estimates show.
The Estimates also reveal credit unions’ share of the consumer credit card market, which has steadily declined, is approximately 14.6%.
According to America’s Credit Unions, its report is 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 Information
The estimates are updated monthly and available in an online dashboard with other resources, the trade group said, adding that Data and Tools section of America’s Credit Unions website contains a wide range of dashboard analytics; data at the state and district level, various calculator tools; the economic forecast; and more.
