Federally insured credit unions across the country saw growth nearly across the board during the first quarter of 2017, according to data released by the National Credit Union Administration.
Median loan growth in federally insured credit unions was 4.4 percent during the year ending in the first quarter, while median asset growth was 3.9 percent. The median rate of growth in deposits and shares was 4.2 percent, while the median loans-to-shares ratio was 62 percent.
Nationally, median growth in loans outstanding was 4.4 percent over the year ending in the first quarter of 2017, just under the 4.5 percent growth rate a year before. The highest median growth rates for loans were in Oregon (10.9 percent), followed by Nevada and Washington (both 9.4 percent). Median loan growth was lowest in Pennsylvania (1.1 percent), followed by Connecticut (1.3 percent).
Median asset growth was 3.9 percent nationally in the year ending in the first quarter of 2017, up from 2.9 percent the year before. Median asset growth was fastest in Oregon (9.3 percent), followed by Maine (8.0 percent). Median asset growth was lowest in Arkansas and the District of Columbia (both 0.4 percent).
At the median, shares and deposits rose in every state over the year ending in the first quarter.
Nationally, the median growth rate in shares and deposits was 4.2 percent, up from 3.0 percent a year earlier.
The median growth rate in shares and deposits was highest in Oregon (9.5 percent) and Maine (8.6 percent). The median growth rate in shares and deposits was lowest in the District of Columbia (0.9 percent) and Arkansas (1.0 percent).
Nationally, 77 percent of federally insured credit unions had positive net income during the first quarter of 2017, essentially unchanged from 78 percent in the same period in 2016. At least 60 percent of credit unions in every state had positive net income during the first quarter. The share of federally insured credit unions with positive net income was highest in Oregon (97 percent), followed by Maine and Iowa (both 93 percent). The share of federally insured credit unions with positive net income was lowest in Arkansas (64 percent) and Mississippi (67 percent).
Credit union membership continued its overall growth during the year ending in the first quarter of 2017, though at the median, membership declined 0.1 percent. Membership was unchanged at the median over the previous year.
Overall, 51 percent of federally insured credit unions had fewer members at the end of the first quarter of 2017 than a year earlier. Median membership growth was negative in 22 states. Alaska (2.6 percent) had the highest median membership growth rate over the year ending in the first quarter of 2017, followed by Washington (2.4 percent). At the median, membership declined the most in the District of Columbia (-2.4 percent), followed by Pennsylvania (-1.5 percent).