Mortgage delinquencies at credit unions crept up in the first half, holding down net income for the second quarter, the National Credit Union Administration reported Wednesday.
The percentage of real estate loans delinquent more than 60 days rose 10 basis points from yearend, to 0.44% at midyear, and foreclosed real estate loans rose to $213 million, the NCUA said. Still, both the chargeoff ratio for credit unions (0.45%) and the delinquency ratio (0.69%) remained near historic lows.
The industry's second-quarter return on assets rose 3 basis points from the first quarter but fell 6 basis points from the end of last year, to 0.76%. Loans grew 2.2% in the second quarter, versus just 0.2% in the first quarter. Savings grew less than 1%, versus 4% in the first quarter.
