Newsroom

FOR IMMEDIATE RELEASE

Washington (June 5, 2017) – The National Association of Federally-Insured Credit Unions (NAFCU) welcomed the National Credit Union Administration's (NCUA) report on credit unions' first-quarter 2017 call report data, which shows credit unions continue to experience steady loan, share and membership growth.

NAFCU President and CEO Dan Berger said the first-quarter 2017 call report data shows how much credit union members value their institutions.

"The figures show that credit unions' consistent commitment to providing excellent products and member service is being recognized by members," said Berger. "Credit unions are maintaining healthy growth by focusing on their members' needs and concerns. Credit unions succeed when their members succeed – this quarterly report is just more proof of that."

The first-quarter data released by NCUA show the following trends at federally insured credit unions:

• Membership in federally-insured credit unions rose 4.2 percent, up 4.3 million members from a year ago.
• Assets grew 7.8 percent to $1.34 trillion, up from $1.24 trillion a year ago.
• Lending grew 10.6 percent to $885 billion, up from $800 billion a year ago; and member business lending rose 15.3 percent to $68.9 billion.
• Deposits (shares) grew 8.3 percent to $1.14 trillion, up from $1.05 trillion a year ago.
• The industry's loan-to-share ratio increased 1.7 percentage points from a year ago to 77.7 percent.
• Credit union net income totaled $9.4 billion annualized in the first quarter, up 2.6 percent from the first quarter of 2016.
• Net worth grew 6.9 percent to $143.1 billion, up from $133.8 billion a year ago

The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go towww.nafcu.orgor @NAFCU on Twitter.

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