NAFCU: NCUA data shows robust loan, membership growth for third quarter
WASHINGTON, DC (December 4, 2014) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger said the National Credit Union Administration’s third-quarter 2014 call report data highlights credit unions’ continued significance in our country’s economy.
“The NCUA’s third-quarter call report data on loan and membership growth indicates a still-growing trend of credit unions becoming the financial institutions of choice for many,” said Berger. “These figures affirm that people are increasingly seeing the value of credit unions’ prudent business model combined with very competitive rates, low costs and fees, as well as exceptional member service.”
Highlights of NCUA’s 2014 third-quarter call report data include:
- Credit union membership grew by 808,900 during the third quarter to 98.7 million.
- The loan-to-share ratio rose 4.3 percentage points to 74 percent, its highest since the fourth quarter of 2009.
- Credit union assets, year over year, were up $51.2 billion, or 4.8 percent, totaling $1.1 trillion.
- The average net worth ratio increased 17 basis points from the second quarter, and 28 basis points from one year ago, to 10.93 percent.
- Delinquency ratios and net charge-offs were flat.
- Total loans increased 10.1 percent to $695.3 billion over the past year.
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.