Credit union portfolios swelled modestly in April once again on the strength of HELOCs and other second-lien residential loans, according to data from America's Credit Unions.
AmCU's loan estimates drawn from Equifax data, which excludes commercial loans, showed loans rising 2.2% over the 12 months ending April 30 and up 0.2% from a month earlier, compared with the average March-to-April gain of 0.4% from 2016 through 2025.
For residential loans, AmCU showed:
- First mortgages rose 1.2% from a year earlier and 0.2% from the previous month, compared with the 10-year average monthly gain of 0.4%.
- Second mortgages rose 5% from a year earlier and 0.2% from the previous month, compared with the 10-year average gain of 0.3%.
- HELOCs rose 14% from a year earlier and 0.9% from the previous month, compared with the 10-year average gain of 0.3%.
Loans growth in most other areas was tepid:
- Secured personal loans fell 0.2% from a year earlier and were flat from a month earlier, compared with the 10-year average monthly gain of 0.7%.
- Unsecured personal loans rose 1.8% from a year earlier and down 0.7% from the previous month, compared with the 10-year average monthly drop of 0.3%.
- Auto loans rose 0.6% from a year earlier and up 0.1% from the previous month, compared with the 10-year average gain of 0.5%.
The weakness of autos was reflected in the Fed's G-19 Consumer Credit Report released June 5. Auto loans account for about three-quarters of its measure for non-revolving, non-residential consumer loans at credit unions.
Credit unions held $631.6 billion in non-revolving consumer loans April 30, down 0.2% from a year earlier. The change was essentially zero from March, far worse than the 10-year average monthly gain of 1%.
The category has been on a general monthly decline since about last June; however April was the first 12-month decline since February 2025.
Banks held $852.3 billion in non-revolving consumer loans April 30, up 3.5% from a year earlier. The change was 0.9% from March, which was better than the 10-year average gain of 0.5%.
The Fed also showed credit unions held $85.8 billion in credit card debt on April 30, up 1.5% from a year earlier. The change was 0.3% from March, compared with the 10-year average March-to-April drop of 0.3%. Credit unions' share was 6.7% in April, unchanged from March and down from 6.8% in April 2024.
Banks held $1.2 trillion in credit card debt on April 30, up 4.4% from a year earlier. The change was 1.2% from March, compared with the 10-year average drop of 0.2%. Banks' share was 92.2% in April, up from 92.1% in March and 91.9% in April 2024.
Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.
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