NCUA releases Q3 2023 state-level data report
ALEXANDRIA, VA (December 20, 2023) — Federally insured credit unions experienced growth in loans, positive net income, and delinquencies in the third quarter of 2023, along with a decline in assets, shares, and deposits, according to the latest NCUA Quarterly U.S. Map Review.
Nationally, median asset growth over the year ending in the third quarter of 2023 was negative 1.6, down from 3.4 percent one year ago. Median growth in shares and deposits over the year ending in the third quarter of 2023 was negative 3.5, compared with 3.7 percent a year ago. Loans outstanding at federally insured credit unions rose 8.5 percent at the median over the year ending in the third quarter of 2023. During the previous year, loans increased by 10.1 percent at the median. At the end of the third quarter of 2023, the median total delinquency rate among federally insured credit unions was 52 basis points, compared with 40 basis points in the third quarter of 2022.
Nationally, 87 percent of federally insured credit unions had positive net income in the first three quarters of 2023, compared with 83 percent in the first three quarters of 2022. The annualized median return on average assets at federally insured credit unions was 67 basis points in the first three quarters of 2023, compared with 50 basis points a year ago.
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. It 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.
