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State Credit Union Data Show Loan Growth Continues in Fourth Quarter of 2017

ALEXANDRIA, Va. (March 13, 2018) – Federally insured credit unions across the country saw continued loan growth in the fourth quarter, according to state-level data compiled by the National Credit Union Administration and released today.

Nationally, median loan growth in federally insured credit unions was 5.0 percent during the year ending in the fourth quarter. Median asset growth was 2.5 percent; the median rate of growth in shares and deposits was 2.4 percent; and the median loans-to-shares ratio was 66 percent.

The NCUA Quarterly U.S. Map Review, available online here, tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia. The review also includes information on two important state-level economic indicators: the unemployment rate and home prices.

 

Loan Growth Remains Positive in all States in the Fourth Quarter

Nationally, median growth in loans outstanding was 5.0 percent over the year ending in the fourth quarter of 2017. The growth rate was 4.0 percent during the previous year. The highest median growth rate for loans was in Oregon (11.0 percent), followed by Washington (10.2 percent). Median loan growth was lowest in New Jersey (0.7 percent), followed by North Dakota (1.8 percent).

 

Vermont, Washington Report Highest Median Asset Growth Rates

Median asset growth was 2.5 percent nationally in the year ending in the fourth quarter of 2017, down from 3.2 percent the year before. Median asset growth was fastest in Vermont (7.0 percent), followed by Washington (5.9 percent). Median asset growth was negative in Louisiana (-0.1 percent). At the median, assets grew the least in the District of Columbia (0.4 percent) and Arkansas (0.7 percent).

 

Shares and Deposits Rise Most Quickly in Vermont, Oregon

At the median, shares and deposits rose 2.4 percent nationally over the year ending in the fourth quarter of 2017, down from 3.3 percent a year earlier.

Over the year ending in the fourth quarter, median growth in shares and deposits was highest in Vermont (6.0 percent) and Oregon (5.5 percent).

Shares and deposits grew the least in the District of Columbia (0.2 percent) and Arkansas (0.5 percent). The median growth rate in shares and deposits was negative in Louisiana (-0.7 percent) and remained unchanged in New Jersey.

 

82 Percent of Credit Unions Report Positive Net Income

Nationally, 82 percent of federally insured credit unions had positive net income during 2017, compared to 80 percent in 2016.

At least 60 percent of credit unions in every state had positive net income during 2017. The share of federally insured credit unions with positive net income was highest in Vermont (100 percent), followed by Maine (98 percent). The share of federally insured credit unions with positive net income was lowest in the District of Columbia (62 percent), followed by Arkansas (68 percent).

 

Median Return on Average Assets Highest in Nevada, Utah

Nationally, the median annualized return on average assets at federally insured credit unions was 38 basis points during 2017, compared to 34 basis points a year earlier.

Nevada (71 basis points) had the highest median annualized return on average assets during the four quarters of 2017, followed by Utah (67 basis points). New Jersey (19 basis points) had the lowest median return on average assets, followed by the District of Columbia (21 basis points).

 

Idaho, Vermont Again Report Highest Median Loans-to-Shares Ratio

Nationally, the median ratio of loans outstanding to total shares and deposits—the loans-to-shares ratio—was 66 percent at the end of the fourth quarter of 2017, up from 64 percent at the end of 2016. The median loans-to-shares ratio was highest among credit unions in Idaho (91 percent), followed by Vermont (88 percent). The median loans-to-shares ratio was lowest in Delaware (48 percent), followed by New Jersey (50 percent).

 

Median Total Delinquency Rate Down Over Year

The median total delinquency rate among federally insured credit unions was 76 basis points at the end of the fourth quarter of 2017, compared to 80 basis points at the end of 2016. At the end of the fourth quarter of 2017, the median delinquency rate was lowest in Oregon (34 basis points), followed by California (38 basis points). New Jersey (155 basis points) reported the highest median delinquency rate, followed by Alaska (138 basis points).

 

Larger Credit Unions Continue to Lead in Membership Growth

The fourth quarter of 2017 saw credit union membership continue to be strongest in larger institutions. At the median, membership growth was unchanged over the year.

Vermont (3.3 percent) had the highest median membership growth rate over the year ending in the fourth quarter of 2017, followed by New Mexico (2.8 percent). At the median, membership declined the most in New Jersey (-1.2 percent) and the District of Columbia (-1.1 percent).

Overall, half of federally insured credit unions had fewer members at the end of the fourth quarter of 2017 than a year earlier. Median membership growth was negative in 20 states. About 75 percent of credit unions with declining membership had assets of less than $50 million.




NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.

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9/20/2018 5:53 PM