ALEXANDRIA, Va. — While overall loan growth increased by 6.8% in the year ending in the third quarter of 2013, NCUA is reporting that Idaho and Rhode Island blew past that, with loan growth of 15.2% and 12.6%, respectively.
Those figures and more come from a second round of data released by NCUA this week highlighting credit union trends during Q3 and the year ending Sept. 30.
In addition to leading the nation in loan growth, Idaho led in membership gains as well, with an increase of 8.9%. Virginia was close behind at 7.8%. Overall, membership at federally insured CUs rose by 2.2% in the year ending in Q3.
National ROAA was 80 basis points, a six-point drop from the third quarter of 2012. ROAA was only up in eight states and Guam, with Utah holding the highest annualized ROAA at 144 basis points, followed by Washington (117 BPs). The District of Columbia and Connecticut posted the lowest annualized ROAA (25 and 30 basis points, respectively), while Georgia's was unchanged.
The percentage of CUs with positive net income during the first dropped by one point when compared with the first three quarters of 2012, from 73% to 72%. The share of CUs with positive net income increased in 17 states and the District of Columbia, while it was unchanged in Alaska, Wyoming and Guam. Maine, Alaska and New Mexico led the way with the highest shares of positive net income (92%), while Hawaii and Connecticut had the lowest (55% and 58%, respectively).
Other highlights of the report:
- Asset growth rose by 4.3% in the year ending during Q3, compared with 6.5% during the previous year. Idaho and Iowa led the nation in annual asset growth.
- Shares and deposits grew by 4.2% nationally, a decrease from 6.2% the prior year. Iowa saw the largest gains, while shares and deposits fell in Massachusetts.
- The delinquency rate remained steady at 1.0%, a decline from 1.2% last year. The highest delinquency rates were found in New Jersey and Florida, while New Hampshire and Idaho had the lowest.
The annualized net charge-off rate dropped from 73 basis points during the first three quarters of 2012 to 57 basis points during the first three quarters of 2013. Net charge-offs fell in 39 states, as well as in the District of Columbia and Guam.
