NCUA Third-Quarter State Map Review Shows Brisk Loan Growth

ALEXANDRIA, Va. (Dec. 3, 2012) – Federally insured credit unions saw balances on outstanding loans increase by 4.3 percent for the year ending in the third quarter of 2012, reflecting a continuing economic recovery and growing consumer confidence, according to a new analysis released today by the National Credit Union Administration (NCUA).

Loan growth was particularly strong in states like New York, Iowa, Tennessee, North Dakota and New Hampshire. Only three states—Nevada, Montana and New Jersey—experienced declines in credit union lending over the last twelve months.
The NCUA Quarterly U.S. Map Review examines key financial indicators on a state-by-state basis for federally insured credit unions. The report, which includes updated state employment rates and state home price indices tables, is available online here.
“Consumer credit drives the economy, and credit unions provide consumers with access to the credit needed to buy homes, purchase cars, and pay for groceries at the store,” said NCUA Board Chairman Debbie Matz. “Credit unions kept credit available during the recession. That commitment to members and to local economies is now, literally, paying off in the form of growing loan balances. What’s more, these loans are a prudent investment for credit unions. Delinquency rates have stayed low, and charge-offs have declined in most states.”
NCUA’s Office of the Chief Economist prepares and issues the quarterly review. The third-quarter report provides state-level credit union data and maps on key metrics, including:
  • Return on average assets—86 basis points nationally, unchanged from the second quarter and up 20 basis points from the third quarter of 2011.
  • Membership growth—up 2.7 percent nationally during the past twelve months to 93.9 million members.
  • Share and deposit growth—up 6.2 percent nationally during the past twelve months.
  • Annual asset growth—up 6.5 percent nationally during the past twelve months.

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.


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