ALEXANDRIA, Va. — Credit unions finished 2013 with some strong gains, but also saw some slipping in important metrics such as return on average assets and share growth.
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That's according to new data released by NCUA examining state-level trends throughout the credit union industry in both the last quarter of 2013 and for the year as a whole.
Among the highlights of NCUA's report:
- Total loans at credit unions grew by 8% nationally in 2013, up from 4.6% in 2012, with Idaho, Iowa and Virginia leading the way, while Massachusetts was the only state to see a dip in lending (0.1% decline).
- Idaho saw the greatest increase in lending (16.7%), while Iowa and Virginia followed close behind at 13.6%. Idaho and Virginia also led the way in new memberships (8.1% and 8%, respectively).
- Overall membership rose by 2.6% last year, hitting the 96.3-million member mark in the fourth quarter, a faster pace than the preceding year ending in Q4 2012. Twenty-seven states grew at a faster rate than in 2012, with Idaho and Virginia leading the way in new memberships (8.1% and 8% growth, respectively). But eight states also saw declines in membership, including a 1.5% slip in Connecticut.
- Assets increased by 3.9% nationally, with Idaho and Iowa again leading the way, though that lift in assets is a decline from 6.2% growth the previous year. Assets in Massachusetts saw the biggest decline (2%), though much of that was driven by HarborOne CU's conversion to a bank charter. New Jersey saw a 0.4% drop in assets.
- National return on average assets also dropped slightly year-over-year, from 85 basis points in 2012 to 78 basis points in 2012. But 11 states saw increases in ROAA, including Utah (the highest, at 145 basis points) and Washington (116 BPs). Connecticut and the District of Columbia posted the lowest ROAA, at 26 and 28 basis points, respectively.
- Shares and deposits also grew by less than the previous year, rising by 3.7% nationally in 2013, compared with a 6.1% uptick in 2012. Idaho saw the largest gains in that field, whereas Massachusetts and Maryland saw the most precipitous drops. (Though, again, the decline in Massachusetts was mostly attributed to HarborOne’s conversion from a CU to a bank.)
- The delinquency rate dropped from 1.2.% nationally in 2012 to 1.0% for 2013, with Delaware and New Jersey holding the highest delinquency rates while North Dakota and New Hampshire recorded the lowest.
