Credit union new-auto loan balances fell 0.1% in October, similar to the decline set in October 2023, and decreased 5.6% during the last year. TruStage tracks that and other key economic trends in its latest Credit Union Trends Report.

Highlights from the December 2024 (October 2024 data) Credit Union Trends Report include:

• Credit union savings balance growth returned to its 7% long run average.
• The annual contraction rate of the credit union industry, 3.3%, falls below its long run average of 3.5%.
• Year-to-date, credit union consumer installment credit fell 1.1%, significantly below the 4.2% gain reported through October in 2023.

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 November 2024 Credit Union Trends Report in its entirety here.

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