Federally insured credit unions saw continued improvement in nearly every category, including lending, assets and deposits, during the third quarter of 2016, according data compiled by the National Credit Union Administration.
The NCUA Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia. It also includes information on unemployment rates and home price changes, according to an NCUA news release.
The NCUA Quarterly U.S. Map Review for the third quarter found year-over-year improvement for federally insured credit unions nationally in nearly all categories including:
• Median growth in loans outstanding was 3.9%. The highest median growth rates for loans were in Washington (9.7%) and Oregon (8.1%), and the lowest were in Pennsylvania (.1%) and Connecticut (.8%)
• Median asset growth was 4.2%. Median asset growth was fastest in Oregon (8.7%), followed by Washington and Arizona (both 7.5%). The District of Columbia and Arkansas saw the lowest median asset growth.
• The median rate of growth in deposits and shares was 4.5%. The median growth rate in deposits and shares was highest in Oregon (8.5%) and Arizona (8.2%), and was lowest in the District of Columbia (.2%) and Arkansas (2%).
• 80% of federally insured credit unions reported positive net income during the first three quarters of 2016, up from 78% in the first three quarters of 2015. At least half of credit unions in every state had positive net income during the first three quarters of 2016.
• The median total delinquency rate at federally insured credit unions was .7% nationally in the third quarter of 2016, down slightly from .8% a year earlier.
Even though overall credit union membership continued to grow, approximately 51% of federally insured credit unions had fewer members at the end of the third quarter of 2016 than a year earlier, according to the release. About 75% of credit unions with declining membership had assets of less than $50 million, the release stated.