‘Map review’ shows median asset growth at 14.2% for credit unions in 2020; median loan growth -0.9%

A quarterly U.S. “map review” by the federal credit union regulatory agency calculates the median levels of asset growth, loan growth, share growth, and other trends among federally insured credit unions (FICUs) during the four quarters ending Dec. 31, 2020, with share-driven asset growth miles ahead of median loan growth for the year.

The map review, published by the National Credit Union Administration (NCUA), gives the median levels for these trends nationally and by state (credit unions are included in their states of chartering or the states in which their headquarters are located). Meanwhile, the report issued March 4 on year-end 2020 credit union data doesn’t provide median trends but looks at total growth, including selected trends for credit unions by asset-size group.

Source: NCUA U.S. Quarterly Map Review (2020 Q4)

The healthiest group of credit unions if measured by lending, membership, and net worth growth included those with at least $1 billion in assets, the March 4 release shows. These areas of growth slow with the next asset-size group down – at least $500 million and less than $1 billion – and are negative for all smaller asset-size groups.

The 2020 Q4 map review, released Friday, shows that:

  • Median asset growth at federally insured credit unions (FICUs) nationally in 2020 was 14.2% (half had asset growth at or above 14.2%, and half had asset growth of 14.2% or less). This compares with 2.8% median asset growth in 2019. Median asset growth in 2020 was highest in Oregon, at 21.4%, and Nevada, at 20.3%; and lowest in Washington, D.C., at 7.5%, and Arkansas, at 8.8%.
  • Median growth in shares and deposits nationally was 15.9% in 2020, up from 2.6% in 2019. Median growth in shares and deposits was highest in Oregon, at 23.1%, and Vermont, at 22.3%; and lowest in Washington, D.C., at 8.6%, and Arkansas, at 10.5%.
  • Loans outstanding nationally declined 0.9% at the median in 2020; it grew 3.1% in 2019. Median loan growth in 2020 was strongest in Alaska, at 7.2 %, and Idaho, at 7%. But median loan growth was negative for FICUs in 25 states and Washington, D.C., during 2020; at the median, loans outstanding declined the most in New Jersey, falling 8.1%, and Delaware, down 6.2%.
  • Membership declined 0.5% at the median, unchanged from the median in 2019. Overall, 56% of FICUs had fewer members at the end 2020 than in 2019. Credit unions with falling membership tend to be small; 65% had less than $50 million in assets. The highest membership growth rates at the median were in Alaska, at 3.7%, and Idaho, at 2.3%. The median membership growth rate in in 31 states and Washington, D.C., was negative; membership declined the most in New Jersey, down 2.4%, and Massachusetts, down 1.4%.

The year-end 2020 data released March 4 shows that FICUs’ total assets grew 17.7% last year to $1.84 trillion, with shares and deposits growing 20.3% to $1.59 trillion. Loans were up 5.9% to $1.16 trillion. (The rapid rise in shares and deposits is considered a temporary effect of the COVID-19 pandemic.) That report also gave selected trends for credit unions by asset-size group:

  • The number of FICUs with assets of at least $1 billion increased to 370 in the fourth quarter of 2020 from 330 in the fourth quarter of 2019. These 370 credit unions held $1.3 trillion in assets, or 71% of total system assets. They reported 9.2% loan growth; 9.7% membership growth; and 11.8% growth in net worth.
  • The number of FICUs with assets of at least $500 million but less than $1 billion rose to 279 in the fourth quarter of 2020 from 247 in the fourth quarter of 2019. These 279 credit unions held $197 billion in total assets, or 11% of total system assets. They reported 3.5% loan growth; 1.8% membership growth; and 3.6% growth in net worth.
  • The number of FICUs with at least $100 million but less than $500 million in assets increased to 1,063 in the fourth quarter of 2020 from 1,018 in the fourth quarter of 2019. These 1,063 credit unions held $237.5 billion in total assets, or 13% of total system assets. They reported an 8.6% decline in loans; a 9.5% decline in membership; and a 5.9% decline in net worth.
  • The number of FICUs with at least $50 million but less than $100 million in assets rose to 687 in the fourth quarter of 2020 from 677 in the fourth quarter of 2019. These 687 credit unions held $49.4 billion in total assets, or 3% of total system assets, and reported an 11.1% decline in total loans; an 11.3% decline in membership; and a 6.3% decline in net worth.
  • The number of FICUs with assets of at least $10 million but less than $50 million declined to 1,541 in the fourth quarter of 2020 from 1,635 in the fourth quarter of 2019. These credit unions held $39.5 billion in assets, or 2% of total system assets, and reported an 18.2% decrease in loans; a 15.7% decline in membership; and a 12.3% decline in net worth.
  • The number FICUs with less than $10 million in assets declined to 1,159 in the fourth quarter of 2020 from 1,329 in the fourth quarter of 2019. These credit unions held $4.8 billion in assets, or 0.3% of total system assets. They reported a 24.5% decline in loans; a 19.3% decline in membership; and a 17.5% decline in net worth.

NCUA Quarterly U.S. Map Review (2020 Q4)

NCUA Quarterly Credit Union Data Summary (2020 Q4)

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