Credit Union and Economic Reports

Credit Union Trends Report

The Credit Union Trends Report is a monthly "pulse check" on the state of the credit union marketplace, often placed in a historical context. The report includes data from two months prior and is published and distributed by Steven Rick from TruStage™.

October 2024

• The average credit union member increased their total credit union deposits by $504 over the last year, from $13,420 in August 2023 to $13,942 in August 2024.
• Credit union loan growth expected to rise to 6% in 2025, from 3% in 2024.
• Credit union new auto loan balances fell 0.6% in August, below the 0.1% gain set in August 2023.
• Home prices rose 0.3% in August, according to the S&P Core Logic Case-Shiller Home Price Index and rose 4.2% year-over-year despite the worst housing affordability in almost 40 years.

Past reports

September 2024

The U.S. money supply increased $620 billion during the last year, boosting credit union deposit growth rates.

August 2024

Long term interest rates fell by 83 basis points since April, boosting interest rate sensitive sectors of the economy.

Economic report

October 2024

• The U.S. economy is expected to grow 2.4% in 2024 and 2% in 2025.
• The unemployment rate fell to 4.1% in September, below the 4.5% considered full employment.
• The core personal consumption expenditure deflator rose to 2.7% on a year-over-year pace, above the Federal Reserve’s 2% target.
• The U.S. money supply as measure by M2 rose 2% in the year ending in August, significantly below the 5.4% long run average.