Liquid deposits include checking, savings and money market accounts. According to the Credit Union Times
Since the start of the recession in January 2008, the share of liquid deposits in credit unions increased 11.2 percentage points and now stands at its highest level ever at 67.5%.
Overall savings (which includes CDs) have also been growing:
Despite almost continuous declines in deposit yields year-over-year savings growth moved up to 6.2%, the highest level since April 2010, the data showed. Read more
This is another factor keeping down deposit rates.