Share Growth Slows ToTrickle
MADISON, Wis. - (09/07/05) -- Credit unions reported anemicdeposit growth of just 0.02% in July, continuing a major drop-offin new savings in 2005, according to CUNA. July's deposit growthcompares to 1% a year ago. Through the first seven months of theyear deposits grew just 2.1%, less than half the 5.1% of 2004, andthe lowest in a decade. On the other side of the ledger, loans grewa strong 1.4% in July, pushing year-to-date loan growth to 6%, justoff last year's 6.5% for the first seven months. New car loans grew3% in July, while used car loans expanded by 1%. Growth in secondmortgage and home equity loans was strong, at 2.7% and 1.6%,respectively, for July.