ALEXANDRIA, Va. — Idaho, Iowa and Virginia continue to lead the way in state-level gains, according to NCUA.
The regulator Thursday released data for Q1, revealing that while annualized loan growth was at 8.8% nationally — up from 4.9% growth during the year ending in the first quarter of 2013 — Idaho and Iowa blew past that with gains of 17.7% and 14.1%, respectively.
Idaho continues to lead the nation in credit union membership growth, rising 8.7%, with Virginia close behind at 8.2%. Nationally, membership rose by only 2.6%, with increases in 43 states overall. Indiana saw the most significant decline at 4.1%.
Other highlights from NCUA's data:
- While the national average ROA sat at 78 basis points for Q1 2014 — a five-point drop from Q1 2013 — more than a dozen states had higher ROA, with Utah leading the way at 128 basis points, followed by North Carolina at 112 basis points.
- 36 states had lower ROA, with New Jersey and Connecticut posting the lowest returns at 24 and 26 basis points, respectively.
- Total asset growth grew by 4.0% during Q1 (a decline from a 5.3% rise the previous year), though CUs in Idaho and Arizona surpassed that with growth of 8.9% and 8.0%, respectively. Assets fell by 1.3% in Massachusetts, while New Jersey saw a 0.7% drop and Maryland a 0.5% decline.
- While shares and deposits rose 3.6% nationally — down from a 5.1% rise the previous year —Idaho more than doubled that, with 8.0% growth. Growth slowed in 46 states, however, with NCUA reporting the largest drops in Massachusetts, Maryland and New Jersey.
- Delinquency rates declined from 1% a year ago to 0.8% at the end of Q1, with New Jersey and Delaware posting the highest delinquency rates, while New Hampshire and North Dakota saw the lowest.
Massachusetts' drops in assets, loans, shares and memebrships during the last year were largely the result of HarborOne CU's conversion from a credit union to a bank, NCUA said.
