A State-by-State Look At How CUs Are Doing

ALEXANDRIA, Va. – NCUA has released its quarterly analysis revealing a state-by-state look at credit union performance data. It shows the median rate of loan growth continuing to rise at federally insured credit unions in the year ending Sept. 30, 2014.

NCUA said that overall, the median return on average assets was higher than the previous year. Share and deposit and asset growth both slowed from a year earlier. The results were released as part of the NCUA Quarterly U.S. Map Review. Among the findings:

  • Median loan growth rate picks up, with Idaho, Arizona taking the lead. Nationally, NCUA noted the median growth rate for loans outstanding was 3.5% during the year ending in the third quarter of 2014, up from the 1.8% median growth rate in the year ending in the third quarter of 2013. The highest median growth rates for loans were in Idaho (9.5%) and Arizona (9.2%). No state showed a negative median loan growth rate over the year. Kansas had the lowest growth rate (0.3%).
  • Median loan-to-share ratio raises to 60%. Nationally, the median ratio of loans outstanding to total shares and deposits was 60% at the end of the third quarter of 2014 compared to 58% at the end of the third quarter of 2013. The median loan-to-share ratio was highest among credit unions in Idaho (86%) and lowest in Hawaii (42%).
  • Median asset growth rate 1.4%. The median asset growth rate at federally insured credit unions was 1.4% nationally in the year ending in the third quarter of 2014, NCUA said. The median growth rate for assets was 2.0% during the year ending in the third quarter of 2013. The median growth rate was highest in North Dakota (5.7%) and South Dakota (4.2%). In four states, median asset growth over the year was negative, indicating at least half of federally insured credit unions in those states had fewer assets at the end of the third quarter of 2014 than a year earlier. New Jersey (-0.8%) had the lowest median asset growth rate.
  • Utah, North Dakota record highest aggregate ROA. Nationally, the aggregate return on average assets among all federally insured credit unions was 83 annualized basis points in the first three quarters of 2014 compared to 80 basis points the previous year, according to NCUA. The aggregate return on average assets was positive in every state, with Utah having the highest (161 basis points), followed by North Dakota (109 basis points). Connecticut (28 basis points) and New Jersey (34 basis points) posted the lowest aggregate return on average assets.
  • Median shares and deposits growth rate slower; six states see decline. Nationally, federally insured credit unions’ median growth rate for shares and deposits was 1.1% in the year ending in the third quarter, down from a median growth rate of 2.2% the previous year. The median growth rate for shares and deposits was highest in North Dakota (5.2%) and Wyoming (4.8%). The median growth rate for shares and deposits was negative in six states. New Jersey (-1.2%) showed the largest decline.
  • Trend in median membership growth continues, with largest CUs seeing the gains. Overall, membership in federally insured credit unions continued to grow in the third quarter of 2014, primarily due to membership growth at credit unions with assets larger than $500 million, NCUA said. However, the median membership growth rate was -0.4%, identical to the rate a year earlier. Nationally, 54% of credit unions had fewer members at the end of the third quarter than a year before. Idaho (2.7%) had the highest median membership growth rate, followed by Alaska and South Dakota (both 1.4%). In 29 states, median membership growth was negative, with Pennsylvania, Montana and New Jersey (all -1.5%) ranking the lowest.
  • Median delinquency rate stable. The median delinquency rate at federally insured credit unions was 0.9% nationally in the third quarter of 2014, slightly below the 1.0% rate a year earlier. The District of Columbia (1.7%) posted the highest median delinquency rate, followed by New Jersey (1.6%). North Dakota (0.2%) had the lowest median delinquency rate at the end of the third quarter.

 

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