Credit Union CD Balances Continue Four-Year Freefall
Wednesday, April 17, 2013 - 9:57 AM
From Credit Union Times:
The last time certificate of deposit balances at credit unions peaked was in March 2009.
The savings instruments are now nearly $38 billion or 16% off that crest established four years ago, according to CUNA Mutual Group’s April Credit Union Trends Report, which tracked data through February.
Members continue to prefer liquid deposits with money markets accounts, share drafts and regular shares accounting for 110% of the $53 billion savings gain during the past year, the data showed.