Idaho Leads Loan Growth in NCUA State Report
Total loans outstanding at federally insured credit unions grew 6.8% in the year ending Sept. 30, 2013, according to a recent analysis by the NCUA.
Membership increased in 43 states and territories but declined in nine states, the agency said.
The NCUA Quarterly U.S. Map Review covers key indicators of federally insured credit unions’ financial health in the 50 states, the District of Columbia, Puerto Rico, Guam and the Virgin Islands.
“Nationally, total loans outstanding grew 6.8% in the year ending in the third quarter of 2013, up from 4.3% the previous year. All but three of the 54 states and territories included in the report showed loan growth, with Idaho (15.2%) and Rhode Island (12.6%) posting the largest gains,” according to the NCUA Quarterly U.S. Map Review for the third quarter.
The review for the third quarter in 2012 said the “total amount of loans outstanding at federally insured credit unions grew by 4.3%, after remaining unchanged during the previous year ending in the third quarter of 2011.”
Membership in federally insured credit unions grew nationally by 2.2% to 95.9 million. In the third quarter of the previous year, membership grew 2.7% to 93.9 million.
“Membership increased in 43 of the states and territories, with Idaho (8.9%) and Virginia (7.8%) reporting the fastest growth. Membership declined in nine states, the Virgin Islands and the District of Columbia,” said the NCUA's review.
Utah and Washington had the highest return on average assets in the third quarter.
“Nationally, the annualized return on average assets at federally insured credit unions was 80 basis points in the first three quarters of 2013 compared to 86 basis points at the end of the third quarter of 2012,” according to the NCUA.