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NAFCU: NCUA data shows credit unions surpass 101 million members

WASHINGTON, DC (September 4, 2015) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger lauded the National Credit Union Administration’s (NCUA) second-quarter 2015 call report data released today, which showcases the value of credit unions to the nation’s economy with membership surpassing 101 million.

“The NCUA’s second-quarter call report data confirms that more and more people are recognizing credit unions’ value,” said Berger. “Credit unions’ exceptional member service, competitive rates, low fees and low-cost, high-quality loans are a formula for success for their members and our nation’s economic growth.”

Highlights of NCUA’s second-quarter 2015 call report data include:

Credit union membership was up by more than 3 million, year over year. For the second quarter of 2015, credit union membership increased by 1.1 million.
Deposits (shares) grew by 4.9 percent, year over year, to $986.8 billion, with the loan-to-share ratio increasing 3.9 percentage points from last June.
Assets increased 5.9 percent, year over year, to $1.17 trillion, up from $1.1 trillion a year ago.
Net worth increased 7.4 percent, year over year, to $127.6 billion, up from $119 billion a year ago.
Delinquency ratio and net charge-offs are significantly lower than they were a year ago.
Total loans increased 10.6 percent, year over year, to $745.2 billion and member business lending rose by 2.9 percent for the quarter and 11.2 percent, year over year.

About NAFCU

The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.