NAFCU: NCUA Data Shows Continued Solid Loan and Membership Growth

WASHINGTON, DC (May 31, 2013) The National Association of Federal Credit Unions (NAFCU) welcomed the results of the National Credit Union Administrations’ (NCUA) first-quarter 2013 call report showing credit unions continue to experience solid loan and membership growth.

“NCUA’s data proves what everyone already knows–credit unions are delivering the value and service that people want in their financial institutions,” said Fred Becker, Jr., NAFCU president and CEO. “The fact that credit unions achieved the highest first-quarter loan growth in five years, with improved loan quality, underscores the public’s continued confidence in credit unions.”

Highlights of NCUA’s first-quarter call report data include:

  • Credit union membership was up more than 2.1 million, year over year. For the first quarter of 2013, credit union membership increased by 808,000.
  • Lending continued to grow, with total loans increasing 4.9 percent, year over year, to $600 billion and business lending rising by 1.4 percent for the quarter and 6.2 percent since March 2012.
  • Deposits (shares) grew by 3.7 percent during the first quarter to $910 billion from $877.9 billion, with the loan-to-share ratio declining 2.1 percentage points from December.
  • Assets increased 3.3 percent to $1.06 trillion, up from $1.02 trillion in 2012.
  • Net worth increased 2 percent to $108.8 billion, up from $106.7 billion.

“Overall, credit unions continue to be well-capitalized, making them a critical resource of high quality credit to help boost small business and job growth on Main Street,” said Becker. “Congress can make it possible for credit unions to do even more for their members by acting on the reforms in NAFCU’s five-point plan for comprehensive regulatory relief

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The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public. 

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