ALEXANDRIA, Va. (9/6/12)--Credit union membership nationwide is surging, and Alaska, Idaho and New Hampshire are helping to lead the way, with each state posting membership increases of 5% or more over the past year, the National Credit Union Administration (NCUA) revealed in the latest quarterly state-by-state review of the financial performance of credit unions.
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The NCUA last week reported that U.S. credit unions added 1.3 million members in just the first half of this year. That total is more than credit unions realized in full-year 2010 and 2011 combined, and is the second-highest increase in the past decade.
The agency's state-by-state review of quarterly financial statistics showed Alaska ranked first overall in credit union membership growth over the past year, with a growth rate of 6.1%.
Membership growth was also strong in Washington, New York, Texas, and parts of the Midwest and southeast U.S. All of these states averaged membership increases of between 3% and 5% over the past year, the NCUA reported.
Some states with strong membership increases also showed positive movement in returns on average assets (ROAA), delinquency rates, asset growth, deposit growth and loan growth.
Credit unions' ROAA increased in 37 states and territories when compared with last year's averages, and Arizona led the way in ROAA for the second straight quarter, posting an ROAA of 149 basis points (bp). New Jersey credit unions posted the lowest ROAA for the second quarter of 2012, recording an ROAA of 36 bp.
The share of credit unions with positive ROAA increased in 34 states, with New Mexico and Alaska posting the highest average shares: 92%.
New Hampshire again posted the lowest average credit union loan delinquency rate in the nation, averaging 0.5%. In another holdover from last quarter's results, Montana again led the nation in delinquencies, with an average of 3.1%. However, this average was slightly below the previous quarter's total of 3.23%. Delinquency rates in 46 states fell when compared to last year's numbers, according to the report.
Overall, the NCUA said most state-level credit union metrics are experiencing a recovery, but "credit union performance varies widely across the country."
Asset growth for North Dakota's credit unions averaged 13.7% over the past year, the highest of any state. North Dakota also led the nation in loan growth, averaging 13.7%. Nevada, which was particularly hard-hit in the recession, was the only state in the nation to report negative asset growth, averaging a loss of 1.3% over the past year, and that state's loan growth average also declined sharply, dropping by 10.4%.
This is the second state-by-state breakdown of key financial indicators released by the agency.
The latest data are drawn from 2012 second quarter call reports. For the full NCUA report, use the resource link.