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NCUA: Total Loans Outstanding at CUs Top $800B in Q2 2016
Wednesday, September 7, 2016 6:50 AM

Total lending at federally insured credit unions increased to $823.4 billion in the second quarter of 2016, the National Credit Union Administration reported Tuesday.

“The credit union system again performed solidly in the second quarter,” said NCUA Board Chairman Rick Metsger. “Loans continued to rise at a double-digit pace over the year with growth in every major category. New auto loans rose 15.6 percent, the fastest of all loan categories. Membership grew by 1.2 million for the quarter and 3.8 million for the year. 

“During the quarter, credit unions continued to move away from long-term investments as they increased lending to members, but there were small increases in overall delinquency and charge-off rates relative to a year ago, and delinquency rates in some loan categories were significantly above their year-ago levels. Going forward, it’s important for credit unions to remain diligent in assessing underwriting risks to keep overall system risk to manageable levels.”

NCUA released the new figures, based on Call Report data submitted to and compiled by the agency for the quarter ending June 30, 2016. Here are the categories of figures highlighted in the report:

  • Loans Outstanding Up 10.5 Percent
  • Short-Term Investments Rise as Longer-Term Investments Fall
  • Overall Delinquency and Charge-Off Rates Increase Slightly
  • Asset and Deposit Increa​ses Continue
  • Credit Unions Add Members as System Consolidation Continues
  • Credit​ Unions Remain Well Capitalized 
  • Net Income Incre​ases; Return on Average Assets Ratio Declines Slightly
  • Larger Credit Unions Seeing Most Growth

Get more details about the report here.