Regular shares continue to be where many members are parking their savings these days.

Roughly 61% of the credit union industry's savings growth is attributable to regular shares, according to CUNA Mutual Group's latest Credit Union Trends Report. This, despite the national average yield being 0.239% in June, which was the latest yield tracked.

Combined, regular shares, share drafts and money market accounts contributed a 107% gain to overall savings growth. The national average yields for share drafts and MMAs were 0.262% and 0.386%, respectively, the report noted.

All of these accounts showed lower yields than a year ago, according to the report. As a result, credit unions reported a 20 basis point reduction in their cost of funds since the second quarter.

Meanwhile, member certificate of deposits have not fared as well as other savings options. As of June, they were down 2.7% year over year and were $36 billion or 15% off their peak in early 2009. The national average CD yield was down to 0.908% and was 52 basis points above the money market yield.

With a membership surge of 95.6 million, which is up 2.4 million year over year, growth in savings per member has remained solid at 3.3%, according to CUNA Mutual Chief Economist Dave Colby.

The $50 billion net deposit inflow was likely helped along by those credit unions with more than $500 million in assets that were the source for 82% of the industry's membership gain, according to the trends report.