Credit Union and Economic Reports
The Credit Union Trends Report and Economic Report provide a review and analysis of recent credit union financial performance and operational results in the context of recent economic activity. Data and analysis are provided to establish standards against which credit unions' own performance can be compared.
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 CUNA Mutual Group. (Opens in a new window)
January 2023 (November 2022 data)
- We are currently forecasting real gross domestic product to flatline in 2023 with essentially no growth, which is below the long-run average of 2% growth rate.
- Over the past 12 months, total credit union loan balances rose a remarkable 19.3%, above the 7.2% long-run average.
- Existing home sales fell 7.7%% in November from October and fell 35% over the last year due to high interest rates and poor affordability.
The Economic & Credit Union Update is a monthly report on the economic factors that impact credit unions’ operations and financial performance.
- GDP grew 2.1% in 2022 but is expected to slow to barely above zero in 2023.
- Inflation over the last 12 months slowed to 6.4% in December, below the high-water mark of 9% set back in June 2022.
- Credit union loan balances grew almost 20% in 2022, one of the fastest years on record.
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