Nevada: Though Still Struggling, Key Financial Indicators Point to Economic Recovery
When comparing Nevada credit unions’ key financial indicators against other states as of June 30, the results aren’t good: Nevada’s 0.40% return on average assets, 2.5% loan delinquency and -11% loan growth are among the worst performance numbers in the country.
However, compared to two years ago, those quarterly numbers from the NCUA are positive proof the recession didn’t permanently tarnish credit unions in the Silver State.
“Talk about a retraining effort,” Johnston said, noting that Las Vegas may see a continued decline in population.
Occupancy rates for hotels on the Strip are pretty high, Beal said, running in the 90% range. However, tourism has not completely bounced back, because tourists aren’t spending nearly as much once they arrive in Las Vegas.