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December 05, 2016
3Q CU membership passes 106M
NCUA call report data shows credit union membership rose 1.3 percent during the third quarter of this year, passing the 106 million mark.
NAFCU President and CEO Dan Berger said the data, released Monday by the NCUA, shows how credit unions are continuing to build strong relationships with consumers.
"The third-quarter data indicates that consumers continue to value credit unions' business model of putting members first," said NAFCU President and CEO Dan Berger. "Main Street credit unions continue to attract consumers who value the difference between credit unions and Wall Street. Extraordinary member service and top-notch products and services underscore the credit union value proposition and continue to attract new members to the industry."
The number of federally insured credit unions declined by 246 over the past 12 months.
Here are highlights of NCUA's 2016 third-quarter call report data:
∙ Credit union membership grew more than 1.3 million during the third quarter of 2016, totaling 106.2 million.
∙ Credit union assets, year over year, were up $96.9 billion, or 8.2 percent, totaling $1.28 trillion.
∙ Shares were up 1.8 percent in the quarter, totaling $1.08 trillion.
∙ Total loans increased 2.9 percent during the quarter, totaling $847 billion.
∙ The loan-to-share ratio increased 0.8 percentage points to 78.6 percent.
∙ The average net worth ratio remained at 10.85 percent in the third quarter, which is a 14 basis point decline from a year ago.
NAFCU President and CEO Dan Berger said the data, released Monday by the NCUA, shows how credit unions are continuing to build strong relationships with consumers.
"The third-quarter data indicates that consumers continue to value credit unions' business model of putting members first," said NAFCU President and CEO Dan Berger. "Main Street credit unions continue to attract consumers who value the difference between credit unions and Wall Street. Extraordinary member service and top-notch products and services underscore the credit union value proposition and continue to attract new members to the industry."
The number of federally insured credit unions declined by 246 over the past 12 months.
Here are highlights of NCUA's 2016 third-quarter call report data:
∙ Credit union membership grew more than 1.3 million during the third quarter of 2016, totaling 106.2 million.
∙ Credit union assets, year over year, were up $96.9 billion, or 8.2 percent, totaling $1.28 trillion.
∙ Shares were up 1.8 percent in the quarter, totaling $1.08 trillion.
∙ Total loans increased 2.9 percent during the quarter, totaling $847 billion.
∙ The loan-to-share ratio increased 0.8 percentage points to 78.6 percent.
∙ The average net worth ratio remained at 10.85 percent in the third quarter, which is a 14 basis point decline from a year ago.
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