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NAFCU: NCUA data shows continued solid credit union loan, share and membership growth

WASHINGTON, D.C. (June 2, 2015) — The National Association of Federal Credit Unions (NAFCU) welcomed the National Credit Union Administration’s (NCUA) report on credit unions’ first-quarter 2015 call report data, which shows credit unions continue to experience solid loan, share and membership growth.

“The first-quarter data shows credit unions continue to excel at providing outstanding value and exemplary service to their members,” said NAFCU President and CEO Dan Berger. “Additionally, credit unions continue to demonstrate their commitment to helping member small businesses develop and grow jobs. These figures affirm that credit unions continue to provide high-quality loans and financial services to millions of American consumers.”

The first-quarter data released by NCUA show the following trends at federally insured credit unions:

Membership in insured credit unions rose more than 2.8 million, year over year. For the first quarter of 2015, credit union membership increased by 700,000.
Lending continued to grow, with total loans increasing 1.3 percent for the first quarter and 10.6 percent, year over year, to $722 billion.
Member business lending grew 2.1 percent for the quarter and 11.6 percent since March 2014.
Deposits (shares) grew 3.5 percent during the first quarter to $984 billion from $951 billion, with the loan-to-share ratio increasing 4.1 percentage points from same time last year.
Assets increased 3.2 percent to $1.2 trillion, up from $1.1 trillion in 2014.
Net worth increased 1.8 percent to $125 billion, up from $123 billion.

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.