Total assets in federally insured credit unions rose to $1.2 trillion at the end of the fourth quarter of 2015, an increase of $82.2 billion, or 7.3%, from the end of 2014. As overall deposits rose, growth in share drafts was especially strong, increasing by 14.5% for the year.

NAFCU President/CEO Dan Berger applauded the figures in a statement.

"The year-end figures underscore the significance of credit unions' dedication to their prudent business model," he said. "For 2015, credit unions saw their highest percentage share growth since 2009, the strongest loan growth in a decade, and the highest rate of member growth in the last 30 years.

He added that Americans are recognizing the value of Main Street credit unions.

"Consumers are voting with their wallets to validate credit unions' focus on serving the financial needs of their member-owners and keeping members' interests as their priority."

Additionally, total loans at federally insured credit unions reached $787 billion in the fourth quarter of 2015, an increase of 2.3% from the previous quarter and 10.5% from a year earlier.

For the year ending with the fourth quarter of 2015, loans grew in every major category, including a 3.4% increase in new auto loans for the quarter to $100.1 billion, an increase of 16% for the year. Used auto loans also improved 2.1% for the quarter and 12.7% for the year to $161.9 billion.

Mortgage loans also improved, as total first mortgage loans outstanding grew by 2.1% for the quarter and 10.3% for the year. Other mortgage loans picked up 1.4% to $74.4 billion for the quarter, up 3.6% for the year.

Net member business loan balances improved to $58.1 billion, gaining 3.6% for the quarter and 12.2% for the year. Additionally, non-federally guaranteed student loans saw a 2.1% improvement to $3.5 billion, up 11.3% for the year.

Federal credit unions also originated $123.3 million in payday alternative loans over the four quarters of 2015, up 7.2% from the fourth quarter of 2014.

The loan-to-share ratio at the end of the fourth quarter was 77.5%, reflecting no change from the previous quarter and up 2.5% from the end of the fourth quarter of 2014.

Credit unions decreased their total investments by $3 billion to $272.8 billion for the quarter.

The credit union system's net long-term asset ratio was 32.7% in the fourth quarter, compared to 33.6% a year prior. Credit unions with less than $10 million in assets had the lowest net long-term asset ratio of any peer group at 10.5%. In comparison, credit unions with more than $500 million in assets had a ratio of 34%.

Further improvements to the credit union system included an increase in the number of federally insured credit unions that were well-capitalized. That number rose to 97.9% reporting a net worth ratio at or above the statutorily required 7%, compared to 97.6% for the quarter one year prior.

The report revealed that 0.6% of federally insured credit unions were undercapitalized.

Credit union memberships grew to 102.7 million at the end of 2015, an increase of 3.5 million from the end of the fourth quarter of 2014.

The total number of credit unions fell by 252 at the end of the fourth quarter to 6,021 – a decline of 4%. Consolidation within the credit union system has remained steady for more than two decades across a variety of economic cycles.

Net income increased by 0.3% in 2014 to $8.7 billion in 2015. The credit union system's aggregate net worth ratio was 10.92% at the end of the fourth quarter, down four basis points from a year earlier.

The delinquency rate in the fourth quarter rose to 81 basis points from 78 basis points the previous quarter, but remained below the 85 basis point level in the fourth quarter of 2014. The year-to-date net charge-off ratio was 48 basis points for 2015, down from 50 basis points in 2014.

The percentage of year-to-date loan charge-offs due to bankruptcy in the fourth quarter was 17.2, which was 2.3 percentage points below the end of the fourth quarter of 2014.

Federally insured credit unions' year-to-date return on average assets ratio stood at 75 basis points at the end of 2015, five basis points below the level reported for the fourth quarter of 2014.

Overall, 79% of federally insured credit unions reported positive returns on average assets for 2015, compared to 78% in 2014.

Larger credit unions – those with $500 million or more in assets – led the system's growth for most performance measures during the fourth quarter of 2015. With total combined assets of $867.5 billion, 481 credit unions held 72% of the system's total assets. Large credit unions again reported the fastest growth in loans, membership and net worth as well as the highest return on average assets.

Continuing credit unions with less than $10 million in assets recorded positive loan and net worth growth. These credit unions also reported a higher net worth ratio than other peer groups, but membership in the smallest credit union asset grouping continued to decline.