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Savings Growth at the Expense of Lending

As members continue to keep their focus on paying down debt, the industrys savings rate has emerged and remained in a hale and hearty state.

By Michelle A. Samaad | Updated on August 31, 2011

As members continue to keep their focus on paying down debt, the industry’s savings rate has emerged and remained in a hale and hearty state.

Member savings picked up fractionally in June primarily due to a 1.3% month-only gain in regular shares, according to CUNA Mutual Group’s August “Credit Union Trends Report.” This component of member savings, which represent 31% of all savings, “is up a healthy 8.9% year to date and an astounding 10.8% since June 2010.”

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