Loan Growth (Finally) Outpaces Savings During July
Loan growth at America's credit unions outpaced savings growth during July, boosting the industry's loan-to-
That's an increase from the 68.2% loan-to-share ratio recorded during June.
Members continue to pour savings into credit unions, albeit at a slower pace, with credit unions holding $537.4 billion in
CUNA noted in its analysis that the savings decline is seasonal, and that June, July and August are typically the worst months for
Where To Put Funds?
Nevertheless, noted CUNA's economists, "With loan growth growing faster than savings, credit unions will need to put their
The fastest growing loan category was "other loans," up 6.1% during July, followed by ARMs (up 2.1%), used auto loans (1.7%),
Overall, said CUNA, year-to-date loan growth declined to 4.7%-down from 4.8% growth in July 2002. Capital remained steady