For the second consecutive quarter, it seems that credit unions had a steep drop in investments. Of the 871 credit unions participating in Callahan's First Look program, their total investments dropped to $67.7 billion in the 4th quarter from $69.5 billion in the 3rd quarter. Investment growth continued its slide among these credit unions as it dropped 2.66% from last quarter down to 8.60% for the year.
The area of investments where credit unions saw the largest decrease was in cash and cash equivalents. These credit unions reduced their cash and cash equivalents by $1.55 billion in the 4th quarter and it only made up 22.0% of total investments compared to 24.4% in the third quarter. Much of this cash went towards servicing the many loans these credit unions received in the 4th quarter. With loan growth outpacing share growth at 2.78% to 0.60%, credit unions had to look for alternative sources of funds. This demand for funds didn't seem to affect other areas of investments though as no other area of investments had an increase or decrease greater than 1%. A full breakdown of investments is displayed below.