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Cornerstone Region Q3 Data Available Now
Monday, October 26, 2015 6:25 AM

Third quarter data is now available on the League’s Charts and Graphs webpage. Since the beginning of the year, Cornerstone credit union assets have grown by nearly $3.7 billion. Members have deposited additional funds that expanded savings by $2.8 billion, and credit unions have loaned to members, expanding their loan portfolios by nearly $3 billion since the first of the year.

There are 9.7 million credit union members in the three states and 27,920 people employed by the 612 credit unions across the region. While the average credit union size is $170 million, the median size is just over $25 million, demonstrating that there are still numerous small financial institutions focused on the unique needs of individual member groupings. In fact, 393 credit unions have less than $50 million in assets with a median asset size of $11 million. Each of these small credit unions has around 2,200 members, a loan portfolio of $7.9 million and six employees.

Overall, at the end of third quarter, the credit unions in the Cornerstone region were well capitalized with a net capital exceeding 13 (NCUA labels seven or better as well capitalized). Credit unions in Arkansas averaged 15, while those in Oklahoma and Texas averaged 11 and 13 respectively.

Since the start of the year, credit unions in the Cornerstone region have boosted their local economies by issuing more than $10 billion in new loans, while members paid off nearly $7 billion in existing loans. Currently, Cornerstone credit unions manage loan portfolios that contain $16 billion in new car loans, $225 million in used car loans, and $14 billion in first mortgages. New auto lending has been brisk during the first nine months, enlarging the portfolios by $447 million. First mortgages have added $886 million this year.