HELOCs and other second-lien residential loans again bolstered an improvement in credit union portfolios in January, while auto loans and unsecured personal loans lagged, according to data from America's Credit Unions.
AmCU estimates released Monday showed loans, excluding commercial loans, rose 1.9% over the 12 months ending Jan. 31 and up 0.5% from Dec. 31, matching the average December-to-January gain from 2016 through 2025 within the Equifax data AmCU uses for its monthly report.
First mortgages rose 0.4% 0.7% from December, compared with the 10-year average gain of 0.5%.
Second mortgages rose 0.5% from December, slightly faster than the 10-year average gain of 0.4%.
Home equity lines of credit (HELOCs) rose 1.5% from December, far outpacing the 10-year average gain of 0.8%.
Auto loans, laggards in credit union portfolios for the past two years, rose 0.1% from December, slower than the 10-year average gain of 0.4%.
Boat loans and other secured personal loans rose 0.2% from December, matching the 10-year average.
Unsecured personal loans rose 1% from December, lagging the 10-year average gain of 0.8%.
CU Times reported Monday that the Federal Reserve's G-19 Consumer Credit Report released Friday showed credit unions held $88.6 billion in credit card debt on Jan. 31, up 2.5% from a year earlier. The increase was 0.4% from December to January, trending opposite of the average December-to-January decline of 0.8%.
Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.
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