ALEXANDRIA, Va. — Median loan growth rates were up by 3.5% for the year ending in the third quarter of 2014, according to new state-by-state analysis from NCUA.
The 3.5% median growth rate represents nearly a doubling of the previous year's figure, when that statistic stood at 1.8%. Idaho and Arizona led the way, with 9.5% and 9.2% respective loan growth, while Kansas held down the bottom spot at 0.3%. No state showed a negative median loan growth rate.
Median loan-to-share ratios rose as well to a national level of 60%, two percentage points above where that figure stood at the end of Q3 2013. Idaho also led the way among states in this field, at 86%, while Hawaii had the lowest median loan-to-share ratio, at 42%.
Median asset growth dropped by 60 basis points year-over-year, falling from 2% to 1.4% from Q3 2013 to Q3 2014. For the current year, North and South Dakota saw the highest rates, at 5.7% and 4.2%, respectively. Four states also saw their numbers dip into negative territory, indicating that at least half of federally insured CUs in those states had fewer assets at the end of Q3 than one year previously. New Jersey had the lowest growth rate, at negative 0.8%.
In addition to leading on asset growth, at 109 basis points, North Dakota was also a leader in ROA, bested only by Utah, at 161 basis points. Connecticut and New Jersey (28 and 24, basis points, respectively) posted the lowest returns.
The trends weren't all positive, however. Six states saw declines in median shares and growth deposit rates, and those rates slowed across the board, dropping from 2.2% in 2013 to 1.1%.
CUs with assets of $500 million or more continued to see the bulk of membership growth, but median growth rates were down by 0.4% compared to one year ago. Additionally, 54% of all credit unions had fewer members than one year ago, though Idaho had the highest membership growth rate (2.7%), followed by Alaska and South Dakota (1.4%). Nearly 30 states saw negative growth rates, with Pennsylvania, Montana and New Jersey all seeing 1.5% negative dips.
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