Brisk Growth Tops NCUA 2Q Stats

by. Mike Muckian

Brisk loan growth, record membership levels and the highest net worth ratio since 2008 topped the NCUA’s second-quarter report for federally insured credit unions.

The data, released Thursday, indicate a positive climate for the movement, according to NCUA Chair Debbie Matz.

“The brisk loan growth shows that federally insured credit unions are meeting the needs of more borrowers and putting their assets to productive use,” Matz said, noting that the net worth ratio rose to 10.5%, its highest level since 2008.

Most encouraging, perhaps, was membership growth. Membership in federally insured credit unions reached 95.2 million, a record high, in the second quarter of 2013. Membership grew by 560,670, or 0.6%. Nearly 2.1 million Americans have joined a credit union in the past four quarters.

“Credit union membership continues to reach a new milestone each quarter,” Matz said.

Loan growth among federally insured credit unions was also strong, totaling $613.7 billion during the second quarter, an increase of $13.8 billion over the previous quarter. Specific highlights included:

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