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NCUA: State Data Show Median Growth Rate for Loans Increases in Second Quarter
Wednesday, September 10, 2014 6:35 AM

A new analysis of state-level data by the National Credit Union Administration shows an increased median rate of loan growth at federally insured credit unions in the year ending June 30, 2014.

Overall median growth rates for assets and shares slowed from the previous year, while delinquencies remained steady. The median loan-to-share ratio increased, while the median return on average assets was slightly lower than the year before.

The NCUA Quarterly U.S. Map Review, prepared by NCUA’s Office of the Chief Economist and available here, tracks performance indicators for federally insured credit unions in the 50 states and the District of Columbia. The review now shows median growth rates, meaning half of all credit unions will have higher rates and half lower. When comparing indicators across states, the use of medians is preferable because medians, unlike state aggregates, are less influenced by the performance of very large institutions. The review includes two key state-level economic indicators: unemployment rates and home price changes.

Nationally, the median growth rate for loans was 3.2 percent during the year ending in the second quarter of 2014, up from the 1.0 percent median growth rate in the year ending in the second quarter of 2013.

Nationally, the median ratio of loans outstanding to total shares and deposits was 58 percent at the end of the second quarter of 2014 compared to 56 percent at the end of the second quarter of 2013. 

Nationally, aggregate annualized return on average assets across all federally insured credit unions was 81 basis points in the first half of 2014 compared to 84 basis points the previous year. Median return on average assets was 30 basis points. Aggregate return on average assets was positive in every state,

Nationally, federally insured credit unions’ median growth rate for shares and deposits was 1.2 percent in the year ending in the second quarter, down from a median growth rate of 2.6 percent in the previous year. 

Overall, membership in federally insured credit unions continued to grow in the second quarter of 2014, primarily due to aggregate membership growth at large credit unions. The median membership growth rate was -0.4 percent, matching the rate from the previous year. Nationally, 54 percent of credit unions had fewer members at the end of the second quarter than a year before.

The median asset growth rate at federally insured credit unions was 1.3 percent nationally in the year ending in the second quarter of 2014. The median growth rate for assets was 2.5 percent during the year ending in the second quarter of 2013. 

The median delinquency rate at federally insured credit unions was 0.9 percent nationally in the second quarter, the same rate recorded at the end of the second quarter of 2013.