Credit Union Loans Decrease 0.12% in March as HELOCs Lead Growth

Credit union lending activity saw a modest contraction in March, with total outstanding loans decreasing by 0.12%. This shift follows a 0.21% decrease recorded in February and represents a significant improvement compared to the 0.4% decline observed in March 2025. These figures are derived from the latest Monthly Credit Union Estimates, which utilize the Equifax Analytics Dataset—an anonymized random sample tracking 10% of all U.S. Consumers with a Social Security number.

Market Drivers and Divergent Trends

While the overall loan portfolio experienced a slight dip, the performance across specific credit products remained uneven. Home equity lines of credit emerged as a growth leader, rising 0.68% during the month, while first mortgages saw a marginal gain of 0.01%.

Conversely, several categories faced downward pressure. Credit card debt saw the most significant contraction at -1.03%, followed by second mortgages at -0.93%. Other areas experiencing declines included unsecured personal loans at -0.75%, private student loans at -0.48%, secured personal loans at -0.3%, and auto loans at -0.1%.

Looking Ahead

The stabilization of loan growth compared to the previous year may indicate a shifting environment for credit union members. Future monthly updates, accessible through the Monthly Credit Union Estimates dashboard, will be critical in determining if the current contraction in credit cards and personal loans is a temporary adjustment or a sustained trend in consumer borrowing behavior. Analysts may look to these upcoming reports to gauge whether home equity will continue to serve as the primary driver of growth in the credit union sector.

Frequently Asked Questions

What data source is used to calculate these lending trends?

The estimates are generated from the Equifax Analytics Dataset, which provides an anonymized random sample of credit report data covering 10% of all U.S. Consumers with a Social Security number.

Which loan categories experienced growth in March?

Home equity lines of credit led the growth at 0.68%, followed by a 0.01% increase in first mortgages.

Where can one find more detailed economic data and analytics?

The Data and Tools section of the America’s Credit Unions website provides access to dashboard analytics, state- and district-level data, calculator tools, and the latest economic forecasts.

How do you think current shifts in consumer borrowing will impact your own financial planning in the coming months?