For the first time in two years, Florida's credit unions haveexperienced a drop in loan delinquencies and net charge-offs, theLeague of Southeastern Credit Unions reported.

Delinquencies at Alabama credit unions are a half-percentagepoint below the national credit union average, and net charge-offshave fallen to their lowest level in three quarters, said theleague, which represents 332 credit unions in Alabama andFlorida.

Alabama credit unions are seeing savings growth nearly onepercentage point greater than the national credit union average,while Florida credit union member savings has also been positivefor the past four quarters. New and used car loans andfirst-mortgage loans have remained steady the past four quarters,according to the league.

Alabama credit unions' net worth ratio was 11%, while Floridacredit unions net worth ratio was 9%. The league said the industrystandard for a well-capitalized financial institution is 7%.Florida credit unions added 25,000 members in the first twoquarters of 2010 and have seen positive member growth for threestraight quarters.

Collectively, credit unions in Alabama and Florida added $615million in assets representing five straight years of collectivegrowth in assets. Credit unions' assets in Alabama grew at a 4%rate, which is double the national credit union average, accordingto the league.

“The challenges facing credit unions in Alabama and Florida havebeen steep with the high unemployment rates in both states and thedepressed housing market in Florida,” said LSCU President/CEOPatrick La Pine. “The second-quarter statistics show that creditunions are working with members to keep them in their homes and tomake payments on their loans. This will help position the memberfor long-term financial success.”