Shares & Deposits Up, Membership Down at Fed Insured CUs
Federally insured credit unions showed continued improvement in nearly every category during the first quarter of 2017, with large credit unions continuing to outpace smaller ones, the NCUA said Monday.
At the median, shares and deposits rose in every state over the year ending with the first quarter.
However, overall, 51% of the federally insured credit unions had fewer members at the end of first quarter than a year earlier. But about 75% of the credit unions with declining memberships had assets of less than $50 million, the NCUA reported.
Median loan growth was 4.4% nationwide, slightly lower than the 4.5% growth rate a year ago. Median asset growth was 3.9% in the year ending in the first quarter, an increase from 2.9% last year.
The median growth in deposits and shares was 4.2%, up from 3% a year ago.
The NCUA said that 77% of the federally insured credit unions had positive net income during the first quarter of the year, basically unchanged from the 78% in the first period of last year.
The median annualized return on average assets was 33 basis points, the same as the first quarter of 2016.
Nationally, the median annualized return on average assets at federally insured credit unions was 33 basis points during the first quarter of 2017, the same as a year ago.
The median total delinquency rate among federally insured credit unions stood at 63 basis points at the end of the first quarter of the year, down from 68 basis points a year ago.
The NCUA also reported that:
- The highest median growth rates for loans was in Oregon, with 10.9%; the lowest in Pennsylvania with 1.1%;
- Median assest growth was the fastest in Oregon, with 9.3% and the lowest in Washington D.C. and Arkansas, with 0.4%;
- The median growth rate in shares and deposits was highest in Oregon, with 9.5% and the lowest in Washington, D.C. with 0.9%;
- The share of credit unions with positive net income was the highest in Oregon—97%--and the lowest in Arkansas, with 64%;
- The median total loan delinquency rate was the lowest in New Hampshire, with 22 basis points and the highest in New Jersey, with 149 basis points.
- Alaska had the highest median membership growth over last year, with 2.6%, while membership decreased the most in Washington, D.C., with a 2.4% drop.