NCUA Releases Q1 2023 state-level credit union data report
ALEXANDRIA, VA (June 14, 2023) — For federally insured credit unions, median asset growth and growth in shares and deposits declined slightly over the year ending in the first quarter of 2023. At the same time, loans outstanding grew at the median, according to the latest Quarterly U.S. Map Review(opens new window) released today by the National Credit Union Administration.
While aggregate assets in federally insured credit unions continued to grow during the year ending in the first quarter of 2023, at the median, assets declined 0.1 percent. In the year ending in the first quarter of 2022, the median asset growth rate was 5.2 percent. Nationally, shares and deposits continued to increase in the aggregate during the year ending in the first quarter of 2023, while the median growth in shares and deposits was negative 1.0 percent. In the year ending in the first quarter of 2022, the median growth rate in shares and deposits was 5.7 percent.
Loans outstanding rose 13.3 percent at the median over the year ending in the first quarter of 2023. During the previous year, loans grew by 4.6 percent at the median. The median total delinquency rate among federally insured credit unions was 38 basis points at the end of the first quarter of 2023, compared with 32 basis points in the first quarter of 2022.
Overall, 85 percent of federally insured credit unions had positive net income in the first quarter of 2023, compared with 77 percent in the first quarter of 2022. At least 70 percent of credit unions in every state and the District of Columbia had positive net income in the first quarter of 2023. The median annualized return on average assets at federally insured credit unions was 61 basis points in the first quarter of 2023, compared with 42 basis points in the first quarter of 2022.
The NCUA’s Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia and includes information on two important state-level economic indicators: the unemployment rate and home prices.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
