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Credit union vitals started the year on much the same path as last year, with loan growth slowing in most categories, savings exceeding borrowing and new car loans shrinking for the second month in a row, according to a CUNA report released this week.

The Madison, Wis., trade group’s Monthly Credit Union Estimates found the nation’s 5,427 credit unions held $1.14 trillion in total loans on Jan. 31, up 6.7% from a year earlier. That’s lower than the growth rate of 8.7% from January 2018 to January 2019, but a slight improvement from the 6.7% 12-month rate in December 2019.

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Jim DuPlessis

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