TruStage: January 2024 Trends Report Available

The January 2024 Credit Union Trends Report is now available.

Highlights from the Credit Union Trends Report

• For the first time in many years, small credit unions reported faster loan growth than larger credit unions because of their greater liquidity.
• Home prices rose 4.8% during the last year, pushing housing affordability to the lowest in four decades.
• Credit union new-auto loan balances were falling at a -2.5% annualized pace in November.

Highlights from the Economic Report

• During the last year the number of credit unions fell by 4.2%, above the long run trend of 3.5%.
• The unemployment rate remained at a very low 3.7% in December, below the 4.5% considered to be full employment.
• The Consumer Price Index rose 3.1% during the last year, approaching the Federal Reserve’s target of 2.0%.
• The credit union loan-to-savings ratio rose to 86.1% in October, the highest in January 2019.

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