Slow, but steady growth.
Credit union membership growth was unchanged—at the median—from a year ago, but membership at small institutions dropped, the NCUA reported Tuesday.
Looking at the fourth quarter of the year, the agency reported that half of the federally insured credit unions had fewer members at the end of the year than a year earlier. But about 75% of the credit unions with declining membership had assets of less than $50 million.
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Vermont credit unions had the largest increase in the nation, with 3.3% growth, while membership dropped the most in New Jersey, where membership decreased 1.2%.
Across the nation, 82% of the federally insured credit unions had positive net income, compared with 80% in 2016, NCUA reported.
At least 60% of the credit unions in every state had positive net income during 2017. All the federally insured credit unions in Vermont had positive net income, while in the District of Columbia, 62% of the federally insured credit unions had positive net income
Median loan growth grew 5% during the year ending in the fourth quarter; it was 4% at the end of 2016. The highest median growth rate for loans was in Oregon, with an 11% jump. Median loan growth was the lowest in New Jersey, at 0.7%.
The median total delinquency rate at federally insured credit unions was 76 basis points at the end of 2017, compared with 80 basis points at the end of 2016. The median delinquency rate was the lowest in Oregon—34 basis points—and the highest in New Jersey—155 basis points.
Median asset growth was 2.5%, down from 3.2% the year before. Median asset growth was the fastest in Vermont—7% and the least in the District of Columbia at 0.4%
Median rate of growth in shares and deposits was 2.4%, a decrease from 3.3% a year ago. Median growth in shares and deposits was the highest in Vermont at 6% and the lowest in the District of Columbia—0.2%. The median growth rate in Louisiana was negative, dropping 0.7%.
Nationally, the median annualized return on average assets was 38 basis points during last year, compared with 34 basis points a year ago. Nevada had the highest median return on average assets at 71 basis points; New Jersey had the lowest, at 19 basis points.
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