NCUA: Deposit, assets, and loans grew in year ending Q3
Federally insured credit unions had continued deposit and asset growth over the year ending in the third quarter of 2022, the NCUA said in its Quarterly U.S. Map Review.
At the same time, loan growth was the strongest in at least two decades.
Overall membership in federally insured credit unions continued to grow in the third quarter, but at the median, membership declined by 0.2%. Overall, about 52% of federally insured credit unions had fewer members at the end of the third quarter of this year than a year earlier. However, credit unions with falling membership tended to be small; more than 60% had less than $50 million in assets.
Inside the Data
Nationally, median asset growth during the year ending in the third quarter was 3.4%, compared with 10.4% a year ago. Median growth in shares and deposits was 3.7%, compared with 11.5% for the prior year.
The national median ratio of total loans outstanding to total shares and deposits was 61% at the end of this year’s third quarter. At the end of the third quarter of 2021, the median loan-to-share ratio stood at 57%.
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