8 takeaways from NCUA's Q1 state-level data
June 14, 2019 2:59 PM
NCUA Quarterly U.S. Map Review
The National Credit Union Administration published on Friday its first-quarter industry data broken down by state.
"Federally insured credit unions generally saw continued positive trends in the first quarter of 2019," according to an NCUA press release.
Credit unions, especially the largest institutions, continued to grow their membership, NCUA said, consistent with long-running trends. The vast majority of federally insured credit unions earned money in the first quarter while loans grew at a greater rate and the delinquency rate dropped.
Previous coverage of these reports can be foundhere and here . A recent industry-wide look can be found here .
Read on for more highlights from Q1.
"Federally insured credit unions generally saw continued positive trends in the first quarter of 2019," according to an NCUA press release.
Credit unions, especially the largest institutions, continued to grow their membership, NCUA said, consistent with long-running trends. The vast majority of federally insured credit unions earned money in the first quarter while loans grew at a greater rate and the delinquency rate dropped.
Previous coverage of these reports can be found
Read on for more highlights from Q1.
Passman, Aaron
Positive net income
More than 60% of credit unions in all 50 states turned a profit during the first quarter, according to NCUA data. Overall, 86% of federally insured credit unions had positive net income during Q1, up from 83% a year earlier.
All credit unions in Nevada, Vermont and New Hampshire earned money, with 98% of institutions in Maine and New Mexico also positing positive net income.
Sixty-four percent of Arkansas credit unions earned money, the lowest in the country. That was followed by Louisiana at 76%.
All credit unions in Nevada, Vermont and New Hampshire earned money, with 98% of institutions in Maine and New Mexico also positing positive net income.
Sixty-four percent of Arkansas credit unions earned money, the lowest in the country. That was followed by Louisiana at 76%.
Passman, Aaron
Assets
National median asset growth stood at just 1.6% in the first quarter, a decline from the 2.2% rate posted a year earlier. At 6.2%, Idaho posted the strongest growth, followed by Alaska at 5.5%.
New Jersey and Kansas both posted a decline in assets at 1% and 0.4%, respectively. Louisiana had only 0.1% growth while West Virginia had 0.3%.
New Jersey and Kansas both posted a decline in assets at 1% and 0.4%, respectively. Louisiana had only 0.1% growth while West Virginia had 0.3%.
Passman, Aaron
Shares and deposits
Shares and deposits for the first quarter increased at a median rate of 1.1% from a year earlier. Alaska and Idaho were again the top two states in this category, with both posting an uptick of 5.1%.
Similarly, New Jersey and Kansas were again at the bottom, with median declines in shares and deposits of 1.6% and 0.7%, respectively. Connecticut and Illinois also reported falling shares and deposits.
Similarly, New Jersey and Kansas were again at the bottom, with median declines in shares and deposits of 1.6% and 0.7%, respectively. Connecticut and Illinois also reported falling shares and deposits.
Passman, Aaron
Membership
Median membership ticked up 0.2% nationally in the first quarter. However, 14 states reported a decline in median membership. Illinois saw the biggest drop at 1.4% followed by New Jersey and Pennsylvania at 1.3%. The NCUA noted that about 75% of credit unions with less than $50 million in assets recorded a decline in membership.
Four states – Maryland, Louisiana, West Virginia and Texas – posted no change in membership.
Alaska and Nevada had the largest boost in membership, posting a median growth of 2.9% and 2.6% respectively.
Four states – Maryland, Louisiana, West Virginia and Texas – posted no change in membership.
Alaska and Nevada had the largest boost in membership, posting a median growth of 2.9% and 2.6% respectively.
Passman, Aaron
Loans
Every state reported a median growth rate in outstanding loans, with Missouri having the biggest jump (9.6%) followed by Minnesota at 9.2%. Nationally this number was 5.8% in the first quarter, up from 5% a year earlier.
New Jersey (0.5%) and Arkansas (0.9%) had the lowest growth rates.
New Jersey (0.5%) and Arkansas (0.9%) had the lowest growth rates.
Passman, Aaron
Delinquency rate
In the first quarter, the median total delinquency rate was 54 basis points, down from 60 basis points for the same period a year earlier. New Jersey led in this category with a median rate of 133 basis points with West Virginia coming in second at 105 basis points.
Nevada had the lowest rate at 27 basis points followed by New Hampshire and Oregon, which both recorded a rate of 28 basis points.
Nevada had the lowest rate at 27 basis points followed by New Hampshire and Oregon, which both recorded a rate of 28 basis points.
Passman, Aaron
Loans-to-shares ratio
Liquidity within the industry tightened as the media ratio of total loans outstanding to total shares and deposits ticked up to 68%, an increase of 4 percentage points from the same period a year earlier. Vermont had the highest percentage at 88% followed by Idaho at 87%.
Delaware had the lowest loan-to-shares ratio at 49% while Hawaii and New Jersey both reported a ratio of 51%.
Delaware had the lowest loan-to-shares ratio at 49% while Hawaii and New Jersey both reported a ratio of 51%.
Passman, Aaron
Return on average assets
The median annualized return on average assets got a boost, coming in at 56 basis points. That was up from 48 basis points a year earlier. Nevada, New Mexico, Utah and Oregon all tied for the highest returns at 86 basis points.
Connecticut had the lowest return at 35 basis points followed by New Jersey at 36 basis points.
Connecticut had the lowest return at 35 basis points followed by New Jersey at 36 basis points.
