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Savings Beat Out Loans in February; Auto Loans See Drop

CUNA's latest monthly credit union estimates showed loans decreasing and savings jumping in February.

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WASHINGTON — CUNA’s latest monthly credit union estimates showed loans decreasing and savings jumping in February.

Loans fell just a bit by 0.1% in February. The few categories that demonstrated increases–other mortgages, fixed-rate first mortgages, and other loans led growth–were slight at 0.7%, 0.6%, and 0.4% respectively. On the other hand, unsecured personal loans dropped 1.5% while credit card loans were down 1.1% and home equity loans were down 0.7%. New and used car loans were also down 0.6% each for the month of February.

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