Total loans outstanding in federally insured credit unions increased $235 billion, or 19.2%, over the year ending in the third quarter of 2022, to $1.46 trillion, according to NCUA’s latest financial performance data. Total assets rose by $132 billion, or 6.6%, to $2.15 trillion during the same period.
Also, insured shares and deposits increased $89 billion, or 5.6%, to $1.69 trillion, from one year earlier.
“Federally insured credit unions continue to perform well overall, and that’s good news,” NCUA Chairman Todd M. Harper said. “However, with ongoing inflationary pressures and rising interest rates, a credit union’s ability to manage its interest rate and liquidity risk exposures will remain a crucial factor in its performance for the remainder of the year and into 2023. Credit unions of all types and sizes must remain diligent in managing their balance sheets, financial performance, and liquidity, interest rate, and credit risk levels as we navigate the challenging economic environment ahead of us.”
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