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Analysis

Lending Shows Slight Improvement for CUs in August

Home, auto and credit card borrowing rises for credit unions, while the number of credit unions continues to steadily decline.

New economic data for credit unions. New economic data for credit unions. (Source: Shutterstock)

Lending showed a stronger pulse in August, with the growth rates for cars, homes and consumer purchases showing improvement, according to reports issued Monday.

CUNA’s Monthly Credit Union Estimates showed the nation’s 5,488 credit unions held $1.11 trillion in loans Aug. 31, up 6.6% from a year earlier. That was down from a 12-month growth rate of 9.2% for the period ending August 2018, but it was the best 12-month gain since April, including July’s 6.1% growth rate.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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