Federally insured credit unions saw 2.6% asset growth and 3.3% loan growth over the 12-month period ending March 31, while total shares and deposits rose 4.5%, the National Credit Union Administration said Thursday.
The agency, reporting on insured credit unions’ first-quarter 2025 call report data, said assets grew over the 12-month period by $60 billion to a total of $2.37 trillion. Loans rose $52.8 billion to a total of $1.65 trillion, it said, while total shares and deposits were up $86.1 billion to a total of $2.02 trillion.
Insured shares and deposits grew $64 billion, or 3.6%, year over year to $1.83 trillion. Growth from the fourth quarter of 2024 was $53.9 billion, or 3%.
Thursday’s release included no accompanying statement from agency board Chairman Kyle Hauptman.
In other key data, the report showed that, year over year:
- Return on average assets (ROAA) was 67 basis points in the first quarter, up from 66 basis points. Median ROAA was 62 basis points, up 7 basis points.
- Within loans outstanding:
- Auto loans were down $10.4 billion, or 2.1%, to $481.4 billion. Within that, used-auto loans were down $2.3 billion, or 0.7%, to $318.7 billion; new-auto loans were down $8.1 billion, or 4.7%, to $162.8 billion.
- Loans secured by 1- to 4-family residential properties increased $44.0 billion, or 6.2%, to $756.8 billion.
- Credit card balances were up $3.0 billion, or 3.7%, totaling $83.8 billion.
- Commercial loans excluding unfunded commitments increased $18.1 billion, or 11.3%, to $178.1 billion.
- Non-federally guaranteed student loans declined $0.4 billion, or 5.2%, to $6.9 billion.
- Within total shares and deposits:
- Regular shares increased by $1.7 billion, or 0.3%, to $575.8 billion.
- “Other” deposits grew $68.0 billion, or 6.9%, to $1.05 trillion, led by share certificate accounts, which grew $53.2 billion, or 10.3%, to $571.0 billion.
- Net income totaled $15.7 billion at an annual rate, up $0.7 billion, or 4.6%. Interest income rose $8.1 billion, or 7.3%, to $118.5 billion annualized. Non-interest income declined by $2.0 billion, or 7.4% percent, to $24.6 billion annualized (largely reflecting a decrease in “other” non-interest income).
- The net charge-off ratio was 82 basis points, up 2 basis points.
- The delinquency rate was 80 basis points, up 2 basis points.
- Loan charge-offs totaled $13.6 billion, up 5.5% from the first quarter of 2024.
- The credit union system’s net worth increased by $14.5 billion, or 5.9%, over the year to $259.3 billion
- The aggregate net worth ratio (net worth as a percentage of assets) stood at 10.95%, up from 10.61%.
Release: Credit Union Assets, Loans Outstanding and Net Income Increase
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