July 2020 Economic Trends Report Is Now Available

August 19, 2020 |

CUNA Mutual Group’s July 2020 Economic Trends Report is now available. This report provides a monthly “pulse check” on the state of the credit union marketplace. The report includes data from two months prior and is published and distributed by Steven Rick, Director and Chief Economist with CUNA Mutual Group.

July highlights include:

  • Credit union loan balances rose 1% in May, faster than the 0.6% pace reported in May 2019 due to record-setting first mortgage loan originations.
  • Credit union fixed-rate first mortgage loan balances rose 33.6% at a seasonally adjusted annual rate in May, the fastest in credit union history.
  • Credit union savings balances grew at a 21% seasonally adjusted, annualized growth rate in May, the fastest pace since August 1986 during the height of the Savings-and-Loan Crisis.