March 2024 Credit Union Trends Report Now Available

April 10, 2024 |

The March 2024 Credit Union Trends Report is now available. The report is published and distributed by Steven Rick, TruStage™ Director and Chief Economist. It provides a monthly “pulse check” on the state of the credit union marketplace, analyzing data from January 2024.

Key highlights from the March report include:

  • Home prices rose more than 6% over the last year, above the 4.1% long run average.
  • The credit union industry’s net income to average asset ratio, return on assets, fell to 0.68% in 2023, down from 0.88% in 2022.
  • Total credit union memberships reached 142.1 million in January 2024.
  • Credit union savings balances fell 0.3% in January due to members paying down credit card balances.

Earlier this week, Rick spoke to Maine credit unions at a League Town Hall. During his discussion, he provided an in-depth overview of his economic indicators for 2024 and its impacts to credit unions. If you missed the April 8 Town Hall and would like to watch a recording of it to hear directly from Rick, a video is posted on the League’s website.