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1st Quarter CU Shares Up 8.3 Percent, Membership at 108M
Tuesday, June 6, 2017 6:50 AM

According to call report data released Monday by the NCUA, federally insured credit unions saw share growth of 8.3 percent, year over year, during the first quarter of 2017 as membership also grew to 108 million.

NCUA’s first quarter data shows credit union membership growth of 4.2 percent versus a year ago, and loan growth of 10.6 percent, year over year.

Here are highlights of the NCUA's 2017 first-quarter call report data:

  • Membership in federally insured credit unions rose 4.2 percent, up 4.3 million members from a year ago.
  • Assets grew 7.8 percent to $1.34 trillion, up from $1.24 trillion a year ago.
  • Lending grew 10.6 percent to $885 billion, up from $800 billion a year ago.
  • Member business lending rose 15.3 percent to $68.9 billion.
  • Deposits (shares) grew 8.3 percent to $1.14 trillion, up from $1.05 trillion a year ago.
  • The industry’s loan-to-share ratio increased 1.7 percentage points from a year ago to 77.7 percent.
  • Credit union net income totaled $9.4 billion annualized in the first quarter, up 2.6 percent from the first quarter of 2016.
  • Net worth grew 6.9 percent to $143.1 billion, up from $133.8 billion a year ago.

Read more at NCUA.