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CUNA Monthly Estimates Show July Loan Growth, Savings Decline
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MADISON, Wis. (9/3/13)--Credit union loans outstanding grew in July and credit  union savings balances declined, according to the Credit Union National Association's monthly  sample of credit unions.
 
Loans grew 1% to $634 billion in July, compared with a 0.5% increase during the same period last year. Unsecured personal loans rose 2.1%, followed by new-auto loans (1.8%), used-auto loans (1.6%), fixed-rate mortgages (1.3%), credit card loans (1.2%), and adjustable-rate mortgages (0.9%). Other mortgages and home-equity loans declined 1.1% and 0.1%, respectively.
 
Savings balances dropped 0.6% in July to $925.1 billion, compared with a 0.8% decline in July 2012. Money-market accounts and one-year certificates grew 0.6% and 0.1%, respectively. Share drafts (3%), regular shares (0.9%) and individual retirement accounts (0.9%) all decreased in July.
 
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Regarding asset quality, credit unions' 60-plus-day delinquency rate remained at 1% during the past six months.
 
With loan growth outpacing savings growth in July, the loan-to-savings ratio increased one percentage point--to 68.5% from 67.5% in June. The liquidity ratio--the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities--was 18% in July.
 
Total credit union membership grew 0.4% during July to 98 million.
 
The movement's overall capital-to-asset ratios remained at 10%. The total dollar amount of capital is $111 billion.
 
News Now will include CUNA's economists' analysis of its monthly sample of credit unions later this week. 
 
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