HARRISBURG, Pa. (4/19/13)--The percentage of Pennsylvania credit unions deemed well-capitalized--with Prompt Corrective Action net worth above 7%--stood at 96.6%, slightly higher than the national average of 96.3%, reported the fourth quarter 2012 Pennsylvania Credit Union Profile.
The rise in overall loan balances for the fourth quarter was driven by credit cards and mortgage loans, and the increase was slightly higher than national averages, said the Pennsylvania Credit Union Association. Loan balances the past year increased 4.4%--the fastest pace in three years (Life Is a Highway April 15).
Pennsylvania credit unions reported slightly higher fourth-quarter loan-delinquency numbers. However, relative to Pennsylvania banks, credit union delinquency rates of 1.13% are below the bank-reported rate of 1.7% for the period, PCUA said.
Pennsylvania credit unions' fourth-quarter membership growth was slow, but remained strong with an overall 2% increase in 2012, PCUA said. Net memberships grew by 73,000 in 2012 to reach nearly 3.73 million.