WASHINGTON – First Look third quarter data released by Callahan & Associates show credit union loan growth for 2002 should probably exceed 2001′s results. Callahan's figures place loan growth at 6.3% year-to-date. Loan growth for the entire year 2001 was 6.7%. The First Look data is based on 1,192 credit unions with combined assets of $180 billion, that represent about a third of the industry's assets. Overall, the data show CUs continue to be financially sound. Their net worth-to-assets ratio increased slightly to 10.0% from 9.9%, and the delinquency ratio remains a low 0.6%. First Look CU's share growth YTD is 9.9%. Callahan said it too remains strong, but it will likely finish the year below last year's 14.7% growth. For the second straight quarter though, loan growth – 2.0% in the third quarter – outpaced share growth – 1.5% in the third quarter. In the second quarter loan growth and share growth figures were 3.0% and 2.1%, respectively. -

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.