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August 2023 Credit Union Trends Report from TruStage

Certificate of deposit balances are growing at the fastest pace in credit union history as interest rates rise above 5%.. TruStage tracks that and other key economic trends in its latest Credit Union Trends Report.

Highlights from the August 2023 (June 2023 data) Credit Union Trends Report include:

  • Mortgage interest rates hit the highest level in more than 22 years, limiting the number of homes for sale.
  • Credit union credit card lending is growing at the fastest pace on record as banks tighten their lending standards.
  • Certificate of deposit balances are growing at the fastest pace in credit union history as interest rates rise above 5%

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 August 2023 Credit Union Trends Report in its entirety here.

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