WASHINGTON--Credit union loans outstanding increased 0.26% in July, compared to a 0.38% increase in the previous month and a 0.2% decrease in July 2024, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.
Leading loan growth during the month were:
- Home equity lines of credit (1.89%)
- Second mortgages (1.11%)
- Credit cards (0.79%)
- Unsecured personal loans (0.47%)
- Secured personal loans (0.26%)
- Auto loans (0.1%)
On the decline were first mortgages (-0.12%) and private student loans (-0.75%).
The report is generated from the Equifax Analytics Dataset, an anonymized random sample of credit report data that tracks 10% of all U.S. consumers with a Social Security number, ACU noted.
The estimates are updated monthly and available in an online dashboard with other resources. The Data and Tools section of America’s Credit Unions website contains a wide range of dashboard analytics; data at the state and district level, various calculator tools; the economic forecast; and more.