Highlights from the Credit Union Trends Report
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- Real home prices rose 3.1% in 2024, almost twice the long run pace of 1.6%.
- Credit union loan balances expected to growth 5% in 2025 up from 2.8% in 2024.
- The personal savings rates averaged only 4.6% recently, below the 6% long run average, creating a headwind for credit union deposit growth.
- The credit union movement’s equity-to-asset ratio ended 2024 at 9.7%, up from the 9.1% reported at year-end 2023
- Credit unions picked up 3.3 million memberships in 2024, down from the 4.0 million gains reported in 2023.
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Highlights from the Economic Report
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- New car sales rose 3.2% in February from January and are up 2.1% from one year earlier.
- The unemployment rate rose to 4.1% in February, below the 4.5% considered full employment.
- The Consumer Price Index came in at 2.8% in February on a year over year pace, down from 3% in January, but still above the Federal Reserve’s 2% target.
- Credit union savings balances rose only 4.7% in 2024, above the 1.6% pace reported in 2023.
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