NCUA Says CU Performance and Membership Improved during the Third Quarter
Credit union assets, deposits and loans increased during the third quarter, but there was a decline in loan-to-share ratio and a slowing of net income growth, the NCUA reported today. Assets of federally insured credit unions totaled $951 billion as of September 30, up from $942 billion at the end of the second quarter.
There were 94.1 million credit union members at the end of the third quarter, compared with 91 million members as of June 30. The agency said that net worth ratio of federally insured credit unions was 10.15%, up from 10.14% at the end of June. The net income of those credit unions grew $1 billion, down from $1.9 billion in the previous quarter.
The loan delinquency ratio was 1.59%, compared with 1.58% at the end of the third quarter. .According to the agency, 56,572 members filed for bankruptcy for the first time in the third quarter, compared with 76,720 during the second quarter. Loan delinquency ratio was 1.59%, compared with 1.58% in the second quarter. Data on other indicators, compared to the previous quarter, include Net worth of $96.6 billion, compared with $95.6 billion; Shares totaling $819.2 billion, up from $812.2 billion; and investments, cash on deposit, and cash equivalents of $347.2 billion, compared with $341.1 billion.