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Third-Quarter State Credit Union Data Show Overall Growth Trends Continuing
Wednesday, December 14, 2016 6:50 AM

Federally insured credit unions saw continued improvement in nearly every category during the third quarter of 2016, according to state-level data compiled by the National Credit Union Administration.

Nationally, median loan growth in federally insured credit unions was 3.9 percent during the year ending in the third quarter. In the same period, median asset growth was 4.2 percent; the median rate of growth in deposits and shares was 4.5 percent; and the median loans-to-shares ratio rose to 63 percent.

The NCUA Quarterly U.S. Map Review, available online here, tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia. The review also includes information on two important state-level economic indicators: unemployment rates and home price changes.

Every State Shows Positive Median Loan Growth
Nationally, median growth in loans outstanding was 3.9 percent over the year ending in the third quarter of 2016, down slightly from 4.1 percent the previous year. The highest median growth rates for loans were in Washington (9.7 percent) and Oregon (8.1 percent). Median loan growth was lowest in Pennsylvania (0.1 percent) and Connecticut (0.8 percent).

Oregon Reports Highest Median Asset Growth Rate
Median asset growth was 4.2 percent nationally in the year ending in the third quarter of 2016, up from 2.4 percent a year earlier. Median asset growth was fastest in Oregon (8.7 percent) and lowest in the District of Columbia (0.6 percent) and Arkansas (1.8 percent).

Shares and Deposits Rise in Every State
At the median, shares and deposits rose in every state over the year ending in the third quarter. Nationally, the median growth rate in shares and deposits was 4.5 percent, up from 2.3 percent a year earlier.

The median growth rate in shares and deposits was highest in Oregon (8.5 percent) and Arizona (8.2 percent) and lowest in the District of Columbia (0.2 percent) and Arkansas (2.0 percent).

80 Percent of Credit Unions Report Positive Net Income
Nationally, 80 percent of federally insured credit unions had positive net income during the first three quarters of 2016, up from 78 percent in the first three quarters of 2015.

At least half of credit unions in every state had positive net income during the first three quarters of this year. The share of credit unions with positive net income was highest in Nevada (100 percent) and Iowa (94 percent) and lowest in Delaware (58 percent), followed by Arkansas, the District of Columbia, and Wyoming (all 66 percent).

Annualized Returns on Average Assets
Nationally, the median annualized return on average assets at federally insured credit unions was 37 basis points over the first three quarters of 2016, up from 35 basis points in the first three quarters of 2015.

Highest Median Loans-to-Shares Ratios
Nationally, the median ratio of loans outstanding to total shares and deposits was 63 percent at the end of the third quarter of 2016, compared to 62 percent a year earlier.

Median Total Delinquency Rate Down From a Year Earlier
The median total delinquency rate at federally insured credit unions was 0.7 percent nationally in the third quarter of 2016, down slightly from 0.8 percent a year earlier.

Larger Credit Unions Still Leading Membership Growth
Overall, credit union membership continued its growth during the year ending in the third quarter of 2016; however, at the median, membership declined 0.1 percent. The median membership growth rate was negative 0.2 percent over the previous year. Overall, 51 percent of federally insured credit unions had fewer members at the end of the third quarter of 2016 than a year earlier.

Approximately 75 percent of credit unions with declining membership had assets of less than $50 million.

Median membership growth was negative in 22 states. At the median, membership declined the most in Pennsylvania (-1.6 percent) and Oklahoma (-1.3 percent).