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News Now

CU System
Delinquency trend shows improvement CUNA
WASHINGTON (5/10/11)--Tucked into the Credit Union National Association’s (CUNA) analysis of the monthly estimates of credit unions for March is asset quality news that might be even better than the slight decrease in delinquencies let’s on as a stand-alone number. CUNA Chief Economist Bill Hampel notes the number should be viewed in concert with the monthly report’s stated decline in loan volume. The CUNA analysis shows delinquencies dropping in March to 1.6%--a two-tenths of one percent decline from the 1.8% a month earlier. (See News Now March 3: Savings grow, loan-to-savings ratio lowest since 1994.) However, loan balances also declined--about 0.1% in March, and 1.1% in the first quarter. And credit union loans outstanding decreased 0.1% during March, compared with a 0.4% decline in February. “The loan delinquency rate in credit unions continues to decline even though the amount of loans has also declined. If the dollar amount of loans is falling and delinquencies are also falling--that means the delinquency rate is truly falling nicely,” Hampel points out. This is an important trend to note, Hampel explains, because recently the delinquency rate--the result of the country’s economic struggles since 2007--has rivaled that of the one witnessed in the early 1980s. That’s when the country was hit with “a double whammy” of recessions--one in 1980 followed by one in 1982, Hampel says. CUNA Monthly CU Data http://www.cuna.org/research/index.html


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