Over the past year alone, the number of share draft accounts has increased 5.8% and share draft penetration has increased 76 basis points.
Share draft penetration increased 76 basis points year-over-year. It hit an all-time high of 57.5% in the second quarter of 2018.
On the asset side of the balance sheet, the number of auto loans has increased 8.5% year-over-year. The industry held 22.2 million auto loans in the second quarter of 2017 and 24.1 million as of June 30, 2018. Auto loan penetration has increased, too, from 20.0% as of June 30, 2017, to 20.8% as of midyear 2018.
Credit unions held 1.9 million more auto loans in the second quarter of 2018 than they did in the second quarter of 2017; 63.3% of these loans were in used auto.
3. Real Estate Loans
As of June 30, 2018, credit unions had 5.1 million real estate loans in their portfolio. That’s 784,709 more than at midyear five years ago. Real estate penetration has fluctuated over the past five years but was 4.4% as of June 30, 2018. That’s 6 basis points higher than as of midyear 2014.
Real estate loans increased 4.7% year-over-year — increasing from 4.9 million as of June 30, 2017, to 5.1 million as of June 30, 2018.
The number of credit card loans at U.S. credit unions increased from 19.2 million as of second quarter 2017 to 20.0 million as of second quarter 2018. That’s a year-over increase of 4.3%. However, because credit card growth and membership growth differed by only 9 basis points, credit card penetration held steady at 17.3%.
A longer view, however, reveals the second quarter 2018 credit card penetration rate was 1.2 percentage points higher than five years ago.