MADISON, Wis. (10/1/13 UPDATED 11:20 a.m. CT)--Credit union loans, membership and savings all went up in August, according to the August monthly sample of credit unions by the Credit Union National Association.
Credit union loans outstanding grew 1.1% in August, led by adjustable-rate mortgages (1.9%), unsecured personal loans (1.8%), new-auto loans (1.5%), used-auto loans (1.3%), fixed-rate first mortgages (1%) and credit card loans (1%). Other mortgages and home equity loans each declined 0.2%.
Credit union savings balances grew 0.9%, compared with a 0.5% decrease in July. The increase is a reflection of three paydays during August with the last payday landing on the last day of the month, CUNA said. Share drafts (6.9%), money market accounts (0.5%), and regular shares (0.1%) also grew during the period. On the decline were one-year certificates (0.3%) and individual retirement accounts (0.1%).
Total credit union membership grew 0.4% during August and now totals 98.3 million.
The movement's overall capital-to-asset ratio remained at 10.2%. The total dollar amount of capital is $110 billion.
Credit unions' 60-plus-day delinquency rate has remained at 1% for the past six months.
With loan growth outpacing savings growth during August, the loan-to-savings ratio increased from 68.9% in July to 69% in August. The liquidity ratio--the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities--is 17.8%.