Idaho Credit Unions Top NCUA Data
Total loans and membership grew at federally insured credit unions, while assets and shares decreased in the year ending March 31, 2014, according to an NCUA analysis of state-level data.
“Nationally, total loans outstanding grew 8.8% in the year ending in the first quarter of 2014, a significant increase from the 4.9% growth rate in the year ending in the first quarter of 2013,” the NCUA said Thursday.
Idaho (17.7%) and Iowa (14.1%) demonstrated the fastest loan growth.
According to the NCUA Quarterly U.S. Map Review, prepared by the agency’s Office of the Chief Economist, membership rose 2.6% to 97.1 million with Idaho (8.7%) and Virginia (8.2%) showing the fastest growth.
The annualized return on average assets at federally insured credit unions dropped from 83 basis points in the first of quarter of 2013 to 78 basis points at the end of the first quarter of 2014. Utah reported the highest ROAA at 128 basis points.
Total assets at federally insured credit unions grew 4% nationally in the year ending the first quarter of 2014 compared to 5.3% in the previous year.
Shares and deposits grew 3.6 % nationally compared to 5.1% growth the prior year. Idaho (8.0%) reported the greatest gain of any state while shares and deposits dropped at federally insured credit unions in Massachusetts, Maryland and New Jersey.
According to the analysis, the delinquency rate declined to 0.8% nationally from 1.0% in the previous year.