NAFCU: 4Q credit union data shows loan growth highest since 2005
WASHINGTON, DC (March 2, 2015) — The National Association of Federal Credit Unions (NAFCU) said credit unions’ fourth-quarter 2014 call report data, released today by the National Credit Union Administration (NCUA), highlights the credit union industry’s strength and value to America’s economy.
“The year-end figures demonstrate the value of credit unions’ solid commitment to their prudent business model,” said NAFCU President and CEO Dan Berger. “For 2014, credit unions saw their highest percentage loan growth since 2005, the highest year-end net worth ratio since 2007 and the lowest delinquency ratio since 2006.
“These data show credit unions are maintaining healthy growth by doing what they do better than any other providers: focusing on the financial needs of their member-owners and keeping members’ interests as their top concern.”
Highlights of the fourth quarter call report data show that, in 2014:
- Membership in federally insured credit unions rose 3.1 percent, up more than 3 million members from 2013.
- Lending grew 10.4 percent to $712.3 billion, up from $645.2 billion in 2013; and member business lending rose 12.4 percent to $51.7 billion.
- Deposits (shares) grew 4.5 percent to $950.8 billion, up from $910.1 billion in 2013.
- The industry’s loan-to-share ratio increased four percentage points to 74.9 percent.
- Assets grew 5.7 percent to $1.12 trillion, up from $1.06 trillion in 2013.
- Credit union net income totaled $8.8 billion, up 8 percent from 2013.
- Net worth grew 7.6 percent to $123.1 billion, up from $114.5 billion in 2013.
The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.