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Home TruStage: Winter 2023 Report Available

TruStage: Winter 2023 Report Available


The November 2023 Credit Union Trends Report is now available.


Highlights from the Credit Union Trends Report

  • Members’ excess savings accumulated during the COVID-19 pandemic have been eliminated..
  • Credit union loan-to-savings ratios are expected to reach a 44-year high in 2024.
  • Credit union used-auto loan balances grew at a remarkably low 0.8% seasonally adjusted annualized growth rate in September, the slowest pace since 2006.


Highlights from the Economic Report

  • The U.S. economy grew 5.2% during the third quarter, above the 2% long-run natural growth rate.
  • The financial sector reported a 5.6% job openings rate, above the 3.5% long-run average.
  • The U.S. money supply dropped 4.0% during the last 12 months.
  • The credit union loan-to-asset ratio reached 71.6% in September, the highest since 2018.
  • Home prices are up 2.8% during the last 12 months.
  • The unemployment rate rose to 3.9% in October, from 3.8% in September.

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