CUNA monthly estimates show July loan growth, savings decline

Credit union loans outstanding grew in July and credit union savings balances declined, according to the Credit Union National Association's (CUNA) monthly sample of credit unions.

Loans grew 1% to $634 billion in July, compared with a 0.5% increase during the same period last year.  Unsecured personal loans rose 2.1%, followed by new-auto loans (1.8%), used-auto loans (1.6%), fixed-rate mortgages (1.3%), credit card loans (1.2%), and adjustable-rate mortgages (0.9%).  Other mortgages and home-equity loans declined 1.1% and 0.1%, respectively.

Savings balances dropped 0.6% in July to $925.1 billion, compared with a 0.8% decline in July 2012.  Money-market accounts and one-year certificates grew 0.6% and 0.1%, respectively.  Share drafts (3%), regular shares (0.9%) and individual retirement accounts (0.9%) all decreased in July.

Regarding asset quality, credit unions' 60-plus-day delinquency rate remained at 1% during the past six months.

With loan growth outpacing savings growth in July, the loan-to-savings ratio increased one percentage point--to 68.5% from 67.5% in June.  The liquidity ratio--the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities--was 18% in July.

Total credit union membership grew 0.4% during July to 98 million.

The movement's overall capital-to-asset ratios remained at 10%.  The total dollar amount of capital is $111 billion.