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ALEXANDRIA, Va. (Dec. 20, 2017) – Federally insured credit unions across the country saw loans grow at a faster rate in the third quarter than a year earlier, while assets and shares grew more slowly, according to state-level data compiled by the National Credit Union Administration and released today.

Nationally, median loan growth in federally insured credit unions was 5.0 percent during the year ending in the third quarter. Median asset growth was 2.9 percent; the median rate of growth in deposits and shares was 2.8 percent; and the median loans-to-shares ratio was 65 percent.

The NCUA Quarterly U.S. Map Review, available online here, tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia. The review also includes information on two important state-level economic indicators: the unemployment rate and home prices.

Positive Loan Growth in all States in the Third Quarter

Nationally, median growth in loans outstanding was 5.0 percent over the year ending in the third quarter of 2017. The growth rate was 3.9 percent during the previous year. The highest median growth rates for loans were in Nevada (12.3 percent), followed by Oregon (11.8 percent). Median loan growth was lowest in Wyoming (0.2 percent), followed by New Jersey (0.3 percent).

Idaho, Vermont Report Highest Median Asset Growth Rates

Median asset growth was 2.9 percent nationally in the year ending in the third quarter of 2017, down from 4.2 percent the year before. Median asset growth was fastest in Idaho (8.3 percent), followed by Vermont (6.2 percent). Median asset growth was negative in the District of Columbia (-1.0 percent). At the median, assets grew least in Louisiana (0.3 percent) and Arkansas (0.4 percent).

Shares and Deposits Rise Paced by Washington, Vermont

At the median, shares and deposits rose 2.8 percent nationally over the year ending in the third quarter of 2017, down from 4.5 percent a year earlier.

The median growth rate in shares and deposits was negative in Louisiana (-0.1 percent) and remained unchanged in the District of Columbia. Shares and deposits grew the least in Arkansas and New Jersey (both 0.5 percent).

81 Percent of Credit Unions Report Positive Net Income

Nationally, 81 percent of federally insured credit unions had positive net income during the first three quarters of 2017, essentially unchanged from 80 percent in the same period in 2016.

At least 55 percent of credit unions in every state had positive net income during the first three quarters of 2017. The share of federally insured credit unions with positive net income was highest in Nevada (100 percent), followed by Oregon (97 percent). The share of federally insured credit unions with positive net income was lowest in the District of Columbia (55 percent), followed by Arkansas and Delaware (both 67 percent).

Median Returns on Average Assets Highest in Nevada, Vermont, Utah

Nationally, the median annualized return on average assets at federally insured credit unions was 39 basis points during the first three quarters of 2017, up slightly from 37 basis points first three quarters in 2016.

Nevada (83 basis points) had the highest median annualized return on average assets during the first three quarters of 2017, followed by Vermont and Utah (both 73 basis points). The District of Columbia (13 basis points) had the lowest median return on average assets, followed by Delaware (21 basis points).

Idaho, Vermont Post Highest Median Loans-to-Shares Ratio

Nationally, the median ratio of loans outstanding to total shares and deposits—the loans-to-shares ratio—was 65 percent at the end of the third quarter of 2017, up slightly from 63 percent at the end of the third quarter of 2016. The median loans-to-shares ratio was highest among credit unions in Idaho (89 percent), followed by Vermont (87 percent). The median loans-to-shares ratio was lowest in Delaware (48 percent), followed by New Jersey, Hawaii, and Pennsylvania (all 50 percent).

Median Total Delinquency Rate Little Changed Over Year

The median total delinquency rate among federally insured credit unions was 72 basis points at the end of the third quarter of 2017, down slightly from 73 basis points in the same period in 2016. At the end of the third quarter of 2017, the median delinquency rate was lowest in Oregon (32 basis points), followed by Minnesota and Colorado (both 35 basis points). The median delinquency rate was highest in New Jersey (172 basis points), followed by Alaska (131 basis points).

Membership Growth Remains Strongest in Larger Credit Unions

The third quarter of 2017 saw credit union membership continue to be strongest in larger institutions. At the median, membership growth was unchanged over the year. 

Arizona (2.5 percent) had the highest median membership growth rate over the year ending in the third quarter of 2017, followed by Washington (2.4 percent). At the median, membership declined the most in the District of Columbia (-1.8 percent), followed by Pennsylvania (-1.2 percent).

Overall, 50 percent of federally insured credit unions had fewer members at the end of the third quarter of 2017 than a year earlier. Median membership growth was negative in 22 states. About 75 percent of credit unions with declining membership had assets of less than $50 million.