NCUA: State Data Show Diverse Results for Credit Unions, Overall Growth Continues
Results varied state-to-state. NCUA’s analysis, available here, looks at key state-level indicators for federally insured credit unions, including employment rates and home price changes.
“Our analysis shows credit unions are growing as the economy improves, making investments in their members and communities,” NCUA Chairman Debbie Matz said. “This mapping tool provides important benchmarks on industry performance at the ground level.”
Nationally, return on average assets (ROAA) at federally insured credit unions was 86 basis points in 2012, up from 67 basis points in 2011. ROAA rose in 45 states and all territories. The share of credit unions with positive ROAA rose in 41 states and Puerto Rico; was unchanged in Wyoming, Guam, and the Virgin Islands; and declined in eight states and Washington, D.C.
Total loans outstanding grew at an annual rate of 4.6 percent in the fourth quarter. Forty-four states and Washington, D.C. reported positive loan growth. North Dakota (15.2 percent) and Oklahoma (12.1 percent) posted the fastest loan growth rates. Loans declined in six states and territories, led by Nevada’s 13.2 percent decline.
Asset growth in 2012 outpaced the previous year, with an annualized rate of 6.2 percent in the fourth quarter. Iowa (11.8 percent) and North Dakota (11.5 percent) had the fastest growth in total assets in the last quarter. Only Nevada posted an asset decline (-6.5 percent) in the quarter.
NCUA’s Office of the Chief Economist prepares and issues the quarterly review, which includes other state-level credit union data and maps on key metrics, such as:
- Membership growth—up 2.2 percent nationally to 93.8 million members.
- Share and deposit growth—up 6.1 percent nationally.
- Delinquency rates—down to 1.2 percent nationally.
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 U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 94 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.