Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
PCUA Card Services Lowest delinquency rates in years
HARRISBURG, Pa. (8/7/12)--The Pennsylvania Credit Union Association's (PCUA) Card Services reports that in the first six months of 2012, credit card delinquencies are at their lowest level since 2007 (Life is a Highway Aug. 6).

Of 167,717 credit card accounts from credit unions on the Card Services credit card program, as of June 30:

  • 1.57% of credit card accounts are delinquent 30 days or more;
  • 2.3% of outstanding credit card loans are delinquent 30 days or more; and
  • Both percentages are at their lowest since 2007.
Credit unions on the program have charged off 607 accounts year-to-date, with an average account balance of $3,820. Total charged-off dollars year-to-date is $2,319,396.

Overall, credit card outstanding loans are down by 4.5%, compared with the same time last year. Also, 38% of total credit limits are used, which is slightly up from the same period in 2011, PCUA said.

"It is a great sign to see delinquency at a five-year low on our credit card program," said Sheba Wallish, manager, PCUA Card Services. "Credit unions are making sound lending decisions, and consumers are being responsible with the credit they have available to them."


RSS print
News Now LiveWire
#NewsNow: CU leagues of 5 states call for merchant breach accountability http://t.co/lnmpna8AoV
9 hours ago
Worker's CU, Fitchburg, Mass., was 1 of 5 CUs recognized with a 2014 @CUNA Technology Council Excellence in Technology Award
10 hours ago
.@Servicecu was 1 of 5 CUs recognized with a 2014 @CUNA Technology Council Excellence in Technology Award.
10 hours ago
SACU of San Antonio was 1 of 5 CUs honored with a 2014 @CUNA Technology Council Excellence in Technology Award
11 hours ago
Credit report tips from @CUNA's Susan Tiffany at @RISMediaUpdates http://t.co/ezefKXwWjw
11 hours ago