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CUNA Mutual: July 2013 CU Trends Report Now Available Online
Thursday, July 25, 2013 5:30 AM

The CUNA Mutual Group's Credit Union Trends Report for July 2013 is now available online. Economic bright spots include robust new light vehicle sales, a stronger housing recovery (sales and prices up and inventories down), and improving job growth. These bright spots bode well for credit union industry lending and credit quality results going forward.

Additional highlights of this month's report include:

  • The credit union count was revised lower by one. At 6,990, the May CU count has now fallen below the 7,000 threshold with a net loss of 250 credit unions during the past year and 80 YTD. Based on NCUA and market pressures, we expect consolidation rates to accelerate.
  • Growth estimates for savings and assets were revised 0.3 percentage points lower, but overall trends remained intact. Annual growth for savings and assets at the end of May was 6.0 percent with assets reaching $1.08 trillion. Rates paid on deposits remain low, roughly equal to May 2012 levels.
  • Industry loan portfolios were revised up, adding 1.4 percentage points to growth. Total credit union loans now stand at $632 billion, up 6.4% from May 2012. Annual growth is more than double results from May 2012 and 65 basis points above the 10 year average growth rate.
  • Revisions added 265,000 members. At the end of May, CUNA shows 97.4 million members. The YTD increase is well above 2012's record pace. Expect annual gains to slow late in the second half of the year.
  • Capital was revised lower by $1.4 billion, but at $110 billion it is up 5.9 percent over the past year. At the end of May, the capital-to-asset ratio was 10.2 percent and the loan-to-share ratio was 67.7 percent. The rapid improvement in the loan delinquency rate was stalled due to revisions adding 15 basis points back into the estimate. At 1.145 percent, we are seeing a slower, but steady decline.