WICHITA, Kan. (7/5/13)--Kansas credit unions began 2013 with strong growth in assets, shares, capital and loans, according to the Kansas Credit Union Association, in another indication of the value that credit unions bring to members.
Loans balances rose by 5.8%, which was "outstanding," said KCUA. That compares with nationwide loan balance growth of 4.8%. The average member relationship--the outstanding combined loan and share balances per member, excluding member business loans--increased to $12,428 in March.
"Our state credit unions continue to faithfully serve the 630,000 Kansas consumers who are credit union members," said Tammy Wendland, consultant for KCUA. She noted that the People Helping People philosophy "is evident by the increased member relationship numbers, as people continue to see the value of credit unions and how credit unions can help them reach their financial goals."
Share balances rose at a 6% rate, outpacing the 5.1% national average, with only share certificates decreasing.
KCUA said asset quality is still a high point for credit unions in the state, despite a slight increase in delinquency. Even with the increase, credit unions are still below the national delinquency average of 1.02%.
Capital levels remained high--at 11.3% of assets, better than commercial banks, as well as credit unions and banks overall nationwide.
Membership rose by 5,300 people during the past year, with Kansas credit unions now serving more than 630,000 members, said KCUA.