WASHINGTON (September 2, 2014) -- National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger lauded the National Credit Union Administration’s (NCUA) second-quarter 2014 call report data, which showcases the value of credit unions to the nation’s economy with loan growth that reached its highest point since 2006.
“The NCUA’s second-quarter call report data confirms that credit unions are great catalysts for economic growth, providing their more than 98 million members with low-cost, high quality loans,” said Berger.
Highlights of NCUA’s 2014 second-quarter call report data include:
- Credit union membership was up nearly 2.8 million, year over year. For the second quarter of 2014, credit union membership increased by 900,000.
- Deposits (shares) grew by 3.4 percent, year over year, to $940 billion, with the loan-to-share ratio increasing 4.2 percentage points from last June.
- Assets increased 4.5 percent, year over year, to $1.1 trillion, up from $1.06 trillion a year ago.
- Net worth increased 7.1 percent, year over year, to $119 billion, up from $111 billion a year ago.
- Delinquency ratio and net charge-offs are significantly lower than they were a year ago.
- Total loans increased 9.8 percent, year over year, to $674 billion and business lending rose by 3.1 percent for the quarter and 11.9 percent since June 2013.
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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.