Credit unions report a continued influx in shares as members seek the safety of deposit accounts.

Declines in consumer loan demand and a continued pullback from indirect lending programs have resulted in a deceleration of auto loan growth, particularly in new auto loans.

As the economic ramifications of COVID-19 swept through the country, the personal savings rate hit an all-time high as consumers moved their savings into deposit accounts.

The Federal Reserve kept interest rates at record lows throughout the second quarter, and the economic uncertainty wrought by COVID-19 supported record inflows at financial institutions.Consequently, credit union investment portfolios reported strong growth

Due to economic lockdowns and government relief efforts, in the second quarter financial institutions had to develop creative strategies to generate revenue.