While most financial indicators provided good news for credit unions, membership in small credit unions continued to drop during the second quarter of the year, the NCUA said Sept. 14.
Nationally, median loan growth in federally insured credit unions was 4.3% during the second quarter, according to the NCUA Quarterly U.S. Map Review. Median asset growth was 3.2%, while the median rate of growth in deposits and shares was 3.3%. The median loans-to-shares ratio increased to 62%, CUNA said.
CUNA said 79% of the federally insured credit unions had positive net income during the first half of the year, up from 77% in the first half of 2015.
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At the median, membership in credit unions remained unchanged. Alaska had the largest median membership growth – 3.1%, while Pennsylvania saw a membership drop of 1.6%.
CUNA said small credit unions continued to see a decline in membership, with 75% of the credit unions that lost members having assets of less than $50 million.
Median loan growth was positive in every state, with the highest increase in Nevada – 10%. The growth rate was the slowest in Pennsylvania, with 0.8% growth.
Median asset growth was the fastest in South Carolina and Nevada, both up 6.4% in a year.
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