WASHINGTON-Total loans outstanding at credit unions increased for the seventh straight month in October, according to analysis released last week by CUNA.
Loans were up-barely-at 0.3%, driven in large part by ARMs, which were up 1.3%. Used auto loans increased by 0.6%, unsecured personal loans 0.5%, and credit card loans increased by 0.4%, CUNA said. Seeing decreases were new auto loans (0.1%), fixed-rate mortgages (0.2%) and home equity loans (0.3%).
The overall CU capital-to-asset ratio remained at 10% (totaling $100 billion), CUNA said, even though CUs had to account for the corporate stabilization assessment. On the savings side, balances declined by 0.1% even as MMA balances were up 0.8% and regular shares 0.4%. IRAs, one-year certificates and shrare drafts all declined. During September savings balances fell 1.3%.
