The National Credit Union Administration (NCUA) reported that assets, loans and shares (deposits) at federally insured credit unions expanded during the first quarter.
According to the NCUA, loans grew by 10.6 percent over the last year to to $884.6 billion. However, loan growth slowed during the first quarter of 2017 to an annualized rate of 7.12 percent. With the exception of credit card loans, all other major loan categories posted an increase during the first quarter.
Insured shares and deposits rose $78 billion, or 7.8 percent, over the four quarters ending in the first quarter of 2017 to $1.1 trillion. However, the pace of share growth accelerated during the first quarter of 2017 to 16.62 percent.
So, while the loan-to-share ratio of 77.73 percent was up from a year ago, it was down from the end of 2016.continue reading »