Credit Union and Economic Reports

Credit Union Trends Report

The Credit Union Trends Report is a monthly "pulse check" on the state of the credit union marketplace, often placed in a historical context. The report includes data from two months prior and is published and distributed by Steven Rick from TruStage™.

December 2024

• Credit union new-auto loan balances fell 0.1% in October, similar to the decline set in October 2023, and decreased 5.6% during the last year.
• Credit union savings balance growth returned to its 7% long run average.
• The annual contraction rate of the credit union industry, 3.3%, falls below its long run average of 3.5%.
• Year-to-date, credit union consumer installment credit fell 1.1%, significantly below the 4.2% gain reported through October in 2023.

Past reports

November 2024

Credit union loan-to-savings ratios expected to remain above 85% in 2025 for the third year in a row.

October 2024

The average credit union member increased their total credit union deposits by $504 over the last year, from $13,420 in August 2023 to $13,942 in August 2024.

Economic report

December 2024

• The U.S. economy is expected to grow 2.4% in 2024, above the 2% natural economic growth rate.
• The unemployment rate fell to 4.1% in December, below the 4.5% considered full employment.
• The core consumer price index fell to 3.2% in December on a year over year pace from 3.3% in November, but still above the Federal Reserve’s 2% target.
• The U.S. money supply as measure by M2 rose 3.7% in the year ending in December, significantly below the 5.4% long run average.