NCUA: First Quarter 2013 State Data Show Growth in Loans, Assets and Membership

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A new analysis of state-level data for federally insured credit unions finds loans, assets and membership grew in the year ending March 31, 2013, according to the National Credit Union Administration.

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A new analysis of state-level data for federally insured credit unions finds loans, assets and membership grew in the year ending March 31, 2013, according to the National Credit Union Administration.

The NCUA Quarterly U.S. Map Review, available here, looks at key state-level indicators, including unemployment rates and home price changes, for federally insured credit unions in the 50 states, the District of Columbia, Puerto Rico, Guam and the Virgin Islands.

Total loans outstanding grew 4.9 percent in the year ending in the first quarter of 2013 after rising 2.2 percent during the previous year. Forty-nine of the 54 states and territories included in the report showed loan growth, with Idaho (12.4 percent) and Oklahoma (12.2 percent) posting the fastest growth rates. Loans declined in four states and the Virgin Islands, led by Nevada, which fell 8.8 percent.

Every state except Nevada showed asset growth during this 12-month period ending March 31, 2013. Total assets grew by 5.4 percent compared to 6.7 percent the previous year. Iowa (10.4 percent) had the highest rate of growth. Nevada credit union assets declined 3.2 percent.

Nationally, annualized return on average assets (ROAA) at federally insured credit unions was 83 basis points in the first quarter of 2013, down slightly from 85 basis points in the first quarter of 2012. ROAA rose in 12 states and in Guam and Puerto Rico. Utah had the highest ROAA (155 basis points) while Delaware had the lowest (26 basis points).

Nationally, 71 percent of federally insured credit unions had positive ROAA in the first quarter of 2013, down slightly from 74 percent the year prior. The share of credit unions with positive ROAA rose in 13 states and Washington, D.C., and remained unchanged in Guam and the Virgin Islands. Maine (93 percent) had the highest share of federally insured credit unions with positive ROAA among the states, while Hawaii (58 percent) had the lowest. All credit unions in Guam had positive ROAA in the first quarter.

NCUA’s Office of the Chief Economist prepares and issues the quarterly map review, which includes other state-level credit union data and maps on essential metrics, such as:

  •     Annual membership growth—Up 2.3 percent nationally to 94.6 million members. Membership grew 2.0 percent in the year ending in the first quarter of 2012.
  •     Annual share and deposit growth—Up 5.1 percent nationally, down from a 6.7 percent rise the year before.
  •     Delinquency rates—Down to 1.0 percent nationally from 1.4 percent the year before.
  •     Annualized net charge-off rates—Down to 0.61 percent nationally from 0.78 percent the year before.

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 more than 94 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

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John Fairbanks
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