Share Growth Dried Up In SecondQuarter
ALEXANDRIA, Va. - (08/23/04) -- The flood of new shares thatinundated credit unions to the tune of more than $150 billion overthe past three years appears to have dammed up in the secondquarter, according to NCUA. Share growth was almost flat from Aprilthrough June, at less than 1%, half of what it was during lastyear's second quarter, and the slowest second quarter in fiveyears. But loan growth rose sharply to 3.8% for the second quarter,compared to 2.7% for the same period last year, and just 1.1% inthis year's first quarter. Mortgage lending continued to pave theway, with first mortgage real estate loans growing 4.7% during thesecond quarter. New auto loans expanded by 4% during the quarter;and used car loans by 2%. Asset quality remained strong, with theaverage delinquency ratio declining from 0.68% to 0.67% during thequarter; and the charge-off ratio dipping to 0.53%.