Total credit union loans outstanding fell by 0.25% in February, compared to a 0.21% gain in January and a 0.05% fall in February 2024, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.
The report is generated from the Equifax Analytic Dataset, an anonymized random sample of credit report data that tracks 10% of all U.S. consumers with a social security number.
Home equity lines of credit (HELOCs) grew in February by 0.91%. Mortgages (-0.18%), auto loans (-0.11%), and credit cards (-1.38%) declined.
Credit union auto loans fell by 0.11% in February, compared to bank auto loans falling by 0.16% and auto financing companies’ loans falling by 0.31%.
The decline in credit card loan growth was more pronounced at banks (-1.62%) and credit card companies (-1.98%), compared to -1.38% at credit unions.
Year-over-year credit union loan growth continued to slow slightly, landing at 1.45% growth for the year ending February 2025, compared to 1.66% growth in the year ending January 2025.
All mortgage loans grew by 3.5% in the year ending February 2025, while all non-mortgage loans declined by 0.52% over the same period.