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NAFCU: NCUA data shows loan growth continues to climb in third-quarter
WASHINGTON, DC (December 2, 2013) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger said the National Credit Union Administration’s (NCUA) third-quarter 2013 call report data showcases the value of credit unions to the nation’s economy with continuing loan growth across all sectors.
“The NCUA’s third-quarter call report data underscores credit unions’ vital role in keeping our economy moving by continuing to offer their members highly competitive, low-cost loans, especially in the auto and mortgage markets, in spite of the tough low-interest rate climate,” said Berger.
Highlights of NCUA’s 2013 third-quarter call report data include:
- Credit union membership maintained a healthy pace with growth at more than 2 million, year over year. For the third quarter of 2013, credit union membership increased by 727,000.
- Deposits (shares) grew by 4.2 percent, year over year, to $905.9 billion, with the loan-to-share ratio increasing 1.8 percentage points from last September.
- Assets increased 4.3 percent, year over year, to $1.06 trillion, up from $1.02 trillion a year ago.
- Net worth increased 7.8 percent, year over year, to $112.6 billion, up from $104.5 billion a year ago.
- Delinquency ratios and net charge-offs are lower than they were a year ago.
- Total loans increased 6.8 percent, year over year, to $631.5 billion, and business lending rose 2.5 percent for the quarter and 9.3 percent since September 2012.
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