MADISON, Wis.-The year 2009 will close as the lowest lending by CUs since World War II, according to a CUNA analysis.
Overall, CU loans outstanding decreased 0.1% during November, but were up 1.8% during the first 11 months of 2009. In 2008, lending was up 6.8%. CUNA reported that during November ARMs led all lending categories with 3.6% growth, followed by credit card loans (1%) and unsecured personal loans (0.4%). Other loans and home equity loans each increased 0.2%. Used-auto loans were down 0.5%, while fixed-rate mortgages slid 0.6%, new autos slowed 1.3%.
On the savings side, overall balances also decreased 0.2% in November and 10.4% during the first 11 months of 2009. Money market accounts were up 1.1%, and IRAs inched up .7%, but regular shares, one-year CDs and share drafts all took a downturn, CUNA said. Other data as of Nov. 30, according to CUNA:
- 60-plus-day delinquencies stayed at 1.8%.
- The loan-to-savings ratio remained constant at 76.9% for the month. The liquidity ratio-the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities-decreased to 19%.
- The overall capital-to-asset ratio remained at 10% in November.
