MADISON, Wis. -
The trade group's Economics and Research Department said that overall 60-day dollar delinquencies were 0.71% in July, up just slightly from 0.69% one month earlier.
Overall, loans were up 1.1% in July, the largest monthly increase since June of 2006, according to CUNA.
Credit card lending increased 2.6% and fixed-rate mortgages were up 2.3%, with balances in both of the portfolios have increased by about 15.5% over the past 12 months, CUNA said.
Savings balances, which typically are drawn down during the summer, slid 1.3% in July, the biggest monthly decrease since August of 2004. CUNA attributed part of the decline to the fact that the month began following a Friday (payday) and ended on a Wednesday. Specifically on the savings side, share draft balances were down 5.1%, regular shares were off 3.7%, and IRAs declined 1.0%. Money markets and certificate balances were each up approximately 1%.
Overall, the trends pushed the credit union average loan-to-savings ratio to 82.6% in July from 80.7% in June.
CUNA also noted that the liquidity ratio (ratio of surplus funds maturing in less than one year to borrowings, plus other liabilities) was at 17.3% in July, almost exactly where it was one year earlier. The overall capital-to-asset ratio increased to 11.5% in July from 11.3% in June.
