MONTHLY CREDIT UNION ESTIMATES

September 2018

MONTHLY

CREDIT UNION E S T I M AT E S

Prepared November 1, 2018 by Credit Union National Association Economics and Statistics Department

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Monthly Credit Union Estimates

September 2018

Loans

Credit union loans outstanding grew 0.7% in September 2018, compared to a 1.0% increase in August. Unsecured personal loans led loan growth, rising 1.2%, followed by fixed-rate mortgages (0.84%), new auto loans (0.81%), used auto loans (0.77%), adjustable-rate mortgages and home equity loans (both rising 0.4%), and credit card loans (0.2%). On the decline during the month were other mortgage loans (-0.2%),

Savings

Credit union savings balances declined -0.4% in September, compared to a 1.4% increase in August. One-year certificates led savings growth during the month, rising 0.8%, followed by individual retirement accounts (0.1%). On the decline during the month were share drafts (-2.9%), money market accounts (-0.4%), and regular shares (-0.3%).

Asset quality

Credit unions' 60+ day delinquency remained at 0.7% during September.

Liquidity

The loan-to-savings ratio increased from 84.5% in August to 85.5% in September.The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) declined from 13.4% in August to 12.6% in September.

Memberships

Total credit union memberships grew 0.3% during September to 117.9 million.

Capital

The movement's overall capital-to-asset ratio declined from 10.7% in August to 10.6% in September.The total dollar amount of capital increased 0.5% to $158.2 billion.

Period

Sept '18 Sept '17 Sept '16 Sept '15 Sept '14

YTD Growth

Loans

7.6% 7.8% 7.8% 8.0% 7.8%

Savings

4.3% 5.2% 6.1% 4.3% 3.1%

YTD Interest Rate Averages

Long-term

Short-term

Difference

10-yr. Treasury

Federal Funds Rate

(Long-Short)

2.87%

1.70%

1.17%

2.32%

0.93%

1.38%

1.75%

0.38%

1.37%

2.12%

0.12%

1.99%

2.62%

0.09%

2.53%

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Monthly Credit Union Estimates

September 2018

CHARTS

Distribution of Credit Union Savings. . . . . . . . . . . . . . . . 1 Distribution of Credit Union Loans . . . . . . . . . . . . . . . . . 1 Credit Union Liquidity Flows. . . . . . . . . . . . . . . . . . . . . . 2 Distribution of Surplus Funds . . . . . . . . . . . . . . . . . . . . . 2 Credit Union Capital Ratio and Delinquency . . . . . . . . . 2 Credit Union Auto Loan and Savings Rates. . . . . . . . . . . 3 Non-revolving Loan Market Shares. . . . . . . . . . . . . . . . . 3 Savings & Consumer Credit Markets. . . . . . . . . . . . . . . . 3

TABLES

National Credit Union Aggregates. . . . . . . . . . . . . . . . . 5 National Credit Union Ratios. . . . . . . . . . . . . . . . . . . . . . 6 National Credit Union Loan Data . . . . . . . . . . . . . . . . . . 7 National Credit Union Income and Expense Ratios . . . . 8 Credit Union & Household Savings Market Data . . . . . . 9 Credit Union & Consumer Credit Market Data. . . . . . . 10

The estimates in this report are based on information from a monthly sample of credit unions and are revised whenever more complete data are available. The estimates have been revised to reflect benchmark data as of June 2018. Look for the October 2018 edition of Monthly Credit Union Estimates during the last week of September.

? Copyright 2018 by Credit Union National Association Inc.All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the copyright owner.

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Monthly Credit Union Estimates

September 2018

Distribution of credit union savings

IRAs 6.4%

MMAs 21.7%

Reg/Other 38.4%

Certs 18.7%

Share Drafts 14.7%

Sept '18 Savings = $1,231.6 Billion

IRAs 6.8%

MMAs 22.4%

Reg/Other 38.3%

Certs 18.1%

Share Drafts 14.4%

Sept '17 Savings = $1,172.1 Billion

Distribution of credit union loans

Other Home Equity 6.3%

5.4% Sec Mort

3.0%

1st Mort Adj 11.1%

New Auto 13.8%

Used Auto 21.2%

Home Equity

5.5% Sec Mort

3.1%

Other 6.2%

1st Mort Adj 11.5%

New Auto 13.6%

Used Auto 21.0%

1st Mort Fixed 29.2%

Unsec 9.8%

Sept '18 Loans = $1,052.6 Billion

(1) Some credit unions sweep share draft balances weekly to reduce reserve requirements. This causes a distortion (i.e. total share draft balances appear smaller than they otherwise would be) in months ending on Friday.

1st Mort Fixed 29.1%

Unsec 10.0%

Sept '17 Loans = $958.5 Billion

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Monthly Credit Union Estimates

September 2018

Maturity of surplus funds

June 2018 vs. June 2017 (All Credit Unions) (sum of cash plus investments)

>10 yrs 1.1%

>10 yrs 1.1%

June '18

3-10 yrs 27.2%

1-3 yrs 23.9%

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