ALEXANDRIA, Va. (June 12, 2017) – Federally insured credit unions across the country saw continued improvement in nearly every category during the first quarter of 2017, according to state-level data compiled by the National Credit Union Administration and released today.
Nationally, median loan growth in federally insured credit unions was 4.4 percent during the year ending in the first quarter. Median asset growth was 3.9 percent; the median rate of growth in deposits and shares was 4.2 percent; and the median loans-to-shares ratio was 62 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.
All States Report Positive Loan Growth in First Quarter
Nationally, median growth in loans outstanding was 4.4 percent over the year ending in the first quarter of 2017, just under the 4.5 percent growth rate a year before. The highest median growth rates for loans were in Oregon (10.9 percent), followed by Nevada and Washington (both 9.4 percent). Median loan growth was lowest in Pennsylvania (1.1 percent), followed by Connecticut (1.3 percent).
Oregon, Maine Report Highest Median Asset Growth Rates
Median asset growth was 3.9 percent nationally in the year ending in the first quarter of 2017, up from 2.9 percent the year before. Median asset growth was fastest in Oregon (9.3 percent), followed by Maine (8.0 percent). Median asset growth was lowest in Arkansas and the District of Columbia (both 0.4 percent).
Shares and Deposits Rise in Every State
At the median, shares and deposits rose in every state over the year ending in the first quarter.
Nationally, the median growth rate in shares and deposits was 4.2 percent, up from 3.0 percent a year earlier.
The median growth rate in shares and deposits was highest in Oregon (9.5 percent) and Maine (8.6 percent). The median growth rate in shares and deposits was lowest in the District of Columbia (0.9 percent) and Arkansas (1.0 percent).
77 Percent of Credit Unions Report Positive Net Income
Nationally, 77 percent of federally insured credit unions had positive net income during the first quarter of 2017, essentially unchanged from 78 percent in the same period in 2016.
At least 60 percent of credit unions in every state had positive net income during the first quarter. The share of federally insured credit unions with positive net income was highest in Oregon (97 percent), followed by Maine and Iowa (both 93 percent). The share of federally insured credit unions with positive net income was lowest in Arkansas (64 percent) and Mississippi (67 percent).
Median Returns on Average Assets Highest in Nevada, Oregon
Nationally, the median annualized return on average assets at federally insured credit unions was 33 basis points during the first quarter of 2017, matching the rate from the first quarter of 2016.
Nevada (72 basis points) had the highest median annualized return on average assets during the first quarter, followed by Oregon (59 basis points). New Jersey and Connecticut (both 19 basis points) reported the lowest median return on average assets.
Alaska, Idaho Share Highest Median Loans-to-Shares Ratio
Nationally, the median ratio of loans outstanding to total shares and deposits was 62 percent at the end of the first quarter of 2017, little changed from 61 percent at the end of the first quarter of 2016. The median loans-to-shares ratio was highest among credit unions in Alaska and Idaho (both 85 percent). The median loans-to-shares ratio was lowest in Delaware (43 percent) and Hawaii (46 percent).
Median Total Delinquency Rate Declines
The median total delinquency rate among federally insured credit unions was 63 basis points at the end of the first quarter of 2017, down from 68 basis points in the same period in 2016. At the end of the first quarter of 2017, the median delinquency rate was lowest in New Hampshire (22 basis points), followed by California (30 basis points). The median delinquency rate was highest in New Jersey (149 basis points), followed by West Virginia (112 basis points).
Larger Credit Unions Still Pacing Membership Growth
Credit union membership continued its overall growth during the year ending in the first quarter of 2017, though at the median, membership declined 0.1 percent. Membership was unchanged at the median over the previous year.
Overall, 51 percent of federally insured credit unions had fewer members at the end of the first quarter of 2017 than a year earlier. Median membership growth was negative in 22 states. About 75 percent of credit unions with declining membership had assets of less than $50 million.
Alaska (2.6 percent) had the highest median membership growth rate over the year ending in the first quarter of 2017, followed by Washington (2.4 percent). At the median, membership declined the most in the District of Columbia (-2.4 percent), followed by Pennsylvania (-1.5 percent).