Credit unions with card portfolios worth over $1 million saw their card charge offs at record levels in the first quarter of 2010, but their delinquencies dropped slightly according to NCUA data.
|An analysis of NCUA data conducted by Asse Exchange, a leading CU card analysis firm and brokerage, found card charge-offs running at an annualized rate of 4.6%, up from 4.1% in the first quarter of 2009. But the data also showed card delinquencies dropping slightly to 1.9% from the 2.0% they held during the first quarter of last year.
|The data also showed CU card balances grew 8.5% during the first quarter, the number of accounts grew 2.4%, and the average balance per account stood at $2,619, the highest for a first quarter in four years. Credit card assets also moved to being 4.4% of overall credit union assets.
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:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 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.
