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CU System
CU savings up loans down assets close to 1 trillion
MADISON, Wis. (4/4/12)--Credit union assets nearly broke the $1 trillion threshold in February, and credit union membership remains strong, as it has since Bank Transfer Day, according to a Credit Union National Association economist's analysis of February's monthly sample of credit unions.

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The movement's total assets reached $999.1 billion in February, a 1.9% increase from January and a 5.3% increase from February 2010.

Credit union membership increased 0.4% in February, an increase of 2.2% from Feb 2010.

"Credit unions are poised to pass the $1 trillion asset mark in March" said Bill Hampel, CUNA's chief economist. "That's one of the easiest predictions I've had to make. It's also gratifying to see strong membership growth continue into 2012.  Membership growth in just the first two months of 2012 is close to membership growth for the whole year 2010."     

Credit union savings balances grew 2.1% in February to $859.2 billion compared to a 0.4% decrease in January. Savings a year ago totaled $817 billion. Share drafts led savings growth with an 8.3% increase, followed by regular shares and money market accounts, which rose 3.4% and 1.2%, respectively. One-year certificates grew 0.1% while individual retirement accounts fell less than 0.1%.

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Credit union loans outstanding decreased 0.2% during February to $584.8 billion, after a 0.1% decline in January. Loans totaled $574.2 billion in February 2011. Adjustable-rate mortgages led loan growth with a 0.7% increase, followed by fixed-rate mortgages, which grew 0.4%. Used-auto loans remained constant while home equity loans declined 0.6% and new-auto loans fell 0.7%. Unsecured personal loans and credit card loans dropped 1.9% and 2%, respectively.

The loan-to-savings ratio fell slightly to 68%. The liquidity ratio (the ratio of surplus funds maturing in less than one year to borrowings plus other liabilities) grew to 21% in February.

Credit unions' 60+ day delinquency rate remained at 1.6%.

The movement's overall capital-to-asset ratio remained at 10%. The total dollar amount of capital is $102 billion.


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