Strong 3Q Numbers Are Posted
The nation's federally insured credit unions reported "strong" 12.1% annualized loan growth, according to NCUA, while delinquent loans remained below 2004 levels during the first nine months of 2005 according to third quarter 2005 Call Report data submitted by the nation's 8,795 federally insured credit unions.
The loan-to-share ratio climbed to 78.3% as loan growth of $17.3 billion in the third quarter pushed the year-to-date increase in loans to $37.5 billion while loan delinquencies of 0.67% remain below 2004 levels, the agency said. Earnings were strong, with credit unions reporting a 0.93% annualized return on average assets. Yields on investments also improved, helping to stabilize the net interest margin at 3.26%. These strong earnings resulted in annualized net worth growth of 8.6% and increased the overall net worth ratio to 11.15%, the figures show.
Total CU assets increased 4.6% to $677 billion.