September 2024 Credit Union Trends Report from TruStage

Credit union first mortgage loan originations dropped 8.9% in the first half of 2024 compared to the first half of 2023. TruStage tracks that and other key economic trends in its latest Credit Union Trends Report.

Highlights from the September 2024 (July 2024 data) Credit Union Trends Report include:

• The U.S. money supply increased $620 billion during the last year, boosting credit union deposit growth rates.
• Credit union loan growth slows to 3.8% during the last year due to high interest rates, tight liquidity and strong competition.
• Credit union new-auto loan balances fell 3.6% year to date, significantly below the 8% expected during a healthy labor market.

The trends report includes data from the previous two months and is published and distributed by Steven Rick, Chief Economist from TruStage. You can review the September 2024 Credit Union Trends Report in its entirety here.

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