MADISON, Wis.-Credit union members continue to save but remain reluctant to borrow, according to data for March 2010 released by CUNA's economists.
CUNA reported that outstanding loans at CUs decreased 0.4% during March, up from a 0.6% decrease during February. Total outstanding loans were $578.8 billion at March 31.
Some loans did see growth, including fixed-rate mortgages (up 0.7%) and unsecured personal loans (0.4%). New auto loans declined 2.1%, other mortgages were down 1.8%), and credit cards and home equity loans slid 0.4%, respectively.
Credit union savings balances were 0.7% in March, down from a 1.9% increase during February, according to CUNA, for total savings of $768-billion at March 31. Regular shares were up 2.7%, followed by IRAs (1.7%).
Sixty-day delinquencies decreased slightly to 1.8%. The loan-to-savings ratio remained at 74% in March, CUNA said, while overall capital-to-assets remained at 10%.
