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News Now

Washington
NEW: NCUA 4Q Map Details Financial, Membership Gains For CUs
ALEXANDRIA, Va. (UPDATED: 3/5/13, 1 p.m. ET)--The National Credit Union Administration's quarterly state-by-state review of the financial performance of federally insured credit unions shows that asset growth in the fourth quarter of 2012 was strongest in two states: Iowa and North Dakota.

In the fourth quarter, assets held in Iowa credit unions increased by 11.8%, and North Dakota credit union assets increased by 11.5%, the NCUA numbers showed. Nevada was the only state to post a decline in total assets, reporting a 6.5% drop during that time, the NCUA reported.

"Our analysis shows credit unions are growing as the economy improves, making investments in their members and communities," NCUA Chairman Debbie Matz said. The NCUA's state-by-state analysis of credit union conditions "provides important benchmarks on industry performance at the ground level," she added.

Total loans outstanding, assets, share and deposit growth and delinquency rates are also addressed in the NCUA release. The Credit Union National Association's own analysis of credit union financials showed continued growth in the fourth quarter, and found that loan originations and new-auto loans saw dramatic increases in 2012. (See New Now story: Improving Loan Losses, New Auto Loan Growth Fuel Strong CU Earnings)

Return on average assets (ROAA) increased at federally insured credit unions in 45 states and all territories, and the share of credit unions with positive ROAA rose in 41 states and Puerto Rico, the NCUA reported.

The NCUA map also pinpoints which states have contributed to credit unions' recent membership momentum. Fourteen states, including Virginia, Alabama and Washington, saw credit union membership growth rates of greater than 3%. Most states saw their credit union membership grow by at least 1%.

For the NCUA maps and an agency release, use the resource link.
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