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Reading the economic indicators. Reading the economic indicators. (Source: Shutterstock)

Credit union loans grew in June at their slowest seasonally adjusted rate since late 2012, providing another signal of economic trouble ahead, according to a report released by CUNA Mutual this week.

Growth from May 31 to June 30 is usually the fastest of the year. However, loan balances rose only 0.7% in June compared with 1.1% in June 2018. The May-to-December growth translates into an annual, seasonally adjusted rate of 5.2% — about half the rate of a year ago and the lowest since late 2012, according to its monthly Credit Union Trends Report.

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Jim DuPlessis

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