Median CU loan growth positive in all states in 3Q, NCUA reports

A state-by-state review of federally insured credit union’s call report data shows year-over-year median loan growth during the third quarter was highest in Minnesota (9.6%) and lowest in New Jersey (1.1%), according to a report released Wednesday by the federal credit union regulator.

Median annual loan growth at federally insured credit unions. (Source: NCUA)

The report from the National Credit Union Administration (NCUA) gives median growth rates for several key indicators of insured credit unions throughout the country. For median growth rates, half of credit unions saw growth at or above the median rate, and half saw growth at or below that rate.

Here are more findings:

Assets

  • Nationally, median asset growth over the year ending in the third quarter of 2018 was 1.7%. In the year ending in the third quarter of 2017, the median growth rate in assets was 2.9%.
  • Over the year ending in the third quarter of 2018, median asset growth was highest in Utah (5.6%), followed by Maine (5.0%).
  • Median asset growth was negative in New Jersey (-1.2%), Louisiana (-0.6%), and Kansas (-0.4%) over the year ending in the third quarter of 2018. At the median, assets grew the least in Arkansas (0.2%) and North Carolina (0.3%).

Shares and deposits

  • Nationally, median growth in shares and deposits over the year ending in the third quarter of 2018 was 1.3%. In the year ending in the third quarter of 2017, the median growth rate in shares and deposits was 2.8%.
  • Over the year ending in the third quarter of 2018, median growth in shares and deposits was highest in Idaho (6.3%) and Utah (6.0%).
  • Median growth in shares and deposits was negative in six states over the year ending in the third quarter of 2018, led by New Jersey (-1.3%) and Kansas (-0.6%). At the median, shares and deposits were unchanged in Rhode Island and grew the least in North Dakota and Mississippi (both 0.1%).

Loans

  • Nationally, the median growth rate in loans outstanding was 5.9% over the year ending in the third quarter of 2018. The median loan growth rate during the previous year was 5.0%.
  • Over the year ending in the third quarter of 2018, median loan growth was positive in every state. Median loan growth was strongest in Minnesota (9.6%), followed by Washington (9.4%).
  • The slowest median growth rate in loans outstanding was in New Jersey (1.1%) followed by Connecticut (2.7%).

The third-quarter data released for all FICUs last week by the agency showed a 67 basis point (bp) delinquency rate for the industry, down from 79bp the same time one year before. The state data released Wednesday showed a median delinquency rate of 66bp at the end of the third quarter, down from 72bp a year before. NCUA says the median delinquency rate at 3Q-end was highest in New Jersey (144bp), followed by Mississippi (118bp). It was lowest in Oregon (30bp), followed by North Dakota and New Hampshire (both 31bp).

NCUA Quarterly U.S. Map Review, Third Quarter 2018

RR: Credit union loan, share growth continue, but at slower pace, 3Q report shows (Dec. 6, 2018)

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