ALEXANDRIA, Va. — As a strong demonstration of the turn in the economy, credit union lending was up more than 4% in the first quarter of 2007 while loan growth was virtually flat.
"Epitomizing the good health of the financial system, during the first quarter of 2007 federally insured credit union assets grew 3.4% and savings expanded a strong 4.2%," Chairman JoAnn Johnson said. "What's more, while loan growth was marginal, loan performance was strong as noted by the 4.7% decline in delinquencies and net charge-offs."
Other key statistics from NCUA's data showed:
? Investments increased 3.5% to $139.2 billion from $134.5 billion;
? Net worth increased 1.5% to $ 83.2 billion from $82.0 billion; and
? Membership increased .5% to 86.1 million members.
Share accounts experienced growth across the board. On the other side, first mortgages grew 2% and other real estate loans grew 0.4%; all other lending categories demonstrated slight declines.
The quarter ended with credit unions reporting an annualized return on average assets of 0.73%, down slightly, and net income down by an annualized 7.43%.
© 2025 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.