Long term interest rates fell by 83 basis points since April, boosting interest rate sensitive sectors of the economy. TruStage tracks that and other key economic trends in its latest Credit Union Trends Report.

Highlights from the August 2024 (June 2024 data) Credit Union Trends Report include:

• Credit union loan balances grew at a 3.0% seasonally adjusted, annualized growth rate in June, less than half the 6.6% pace set in June 2023.
• Certificate of deposit balances now make up 28% of all credit union deposits, double the share from 2021 and the highest since 2009.
• Credit union memberships should exceed 144 million by the fourth quarter of 2024.

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 2024 Credit Union Trends Report in its entirety here.

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