July 2023 Credit Union Trends Report from TruStage
Despite lower headline inflation, the Federal Reserve will keep raising interest rates in 2023. TruStage tracks that and other key economic trends in its latest Credit Union Trends Report.
Highlights from the July 2023 (May 2023 data) Credit Union Trends Report include:
- Despite lower headline inflation, the Federal Reserve will keep raising interest rates in 2023.
- Credit union loan balances rose 0.6% in May, much slower than the 2.1% pace reported in May 2022.
- Credit union savings-per-member declined by $381 during the last year, the largest in credit union history.
The trends report includes data from the previous two months and is published and distributed by Steven Rick, Chief Economist from TruStage. You can review the May 2023 Credit Union Trends Report in its entirety here.
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