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.
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.