2Q loan growth outpaces shares, is highest in 8 years
|Source: NCUA 2Q trend data for federally insured credit unions.|
Sept. 3, 2014 – NCUA yesterday released second-quarter 2014 call report data which showed credit union loan growth at its highest point since 2006, as well as credit union membership up by 900,000 since the first quarter.
NAFCU President and CEO Dan Berger lauded the report, saying "The NCUA's second-quarter call report data confirms that credit unions are great catalysts for economic growth, providing their more than 98 million members with low-cost, high quality loans."
Other highlights of the call report data included:
- credit union membership increased by nearly 2.8 million year over year;
- deposits (shares) grew by 3.4 percent, year over year, to $940 billion, with the loan-to-share ratio increasing 4.2 percentage points from last June;
- assets increased 4.5 percent, year over year, to $1.1 trillion – up from $1.06 trillion a year ago;
- net worth increased 7.1 percent, year over year, to $119 billion – up from $111 billion a year ago;
- delinquency ratio and net charge-offs are significantly lower than they were a year ago; and
- total loans increased by 9.8 percent, year over year, to $674 billion, and business lending rose by 3.1 percent for the quarter – 11.9 percent since June 2013.
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