National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger said the National Credit Union Administration’s third-quarter 2015 call report data highlights the growing value credit unions provide their members.
“The NCUA’s third-quarter call report data on loan and share growth indicates a deepening level of confidence among credit union members and the increasing value that members place on their credit unions,” said Berger. “This data demonstrates credit unions are a welcome resource and continue to appeal based on a member-focused, not-for-profit business model that delivers very competitive rates, low costs and fees, as well as extraordinary member service.”
Highlights of NCUA’s 2015 third-quarter call report data include:
- Credit union membership grew by 1.1 million during the third quarter of 2015 – bringing it to a total of 102.1 million.
- The loan-to-share ratio rose two percentage points to 77.5 percent.
- Credit union assets, year over year, were up $73 billion, or 6.6 percent, totaling $1.18 trillion.
- The average net worth ratio increased seven basis points from the second quarter, and six basis points from one year ago, to 10.99 percent.
- Total loans increased 10.7 percent to $769.5 billion over the past year.