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Mapping growth
NCUA recently released its latest Quarterly U.S. Map Review, in which the regulator tracks a variety of performance indicators, including membership, loans, shares, delinquencies and others. It said federally insured credit unions “saw continued improvement in nearly every category in the second quarter of 2017.” Some highlight figures: nationally, for the year ending June 30, 2017, median loan growth in federally insured credit unions was 4.4 percent during the year ending in the second quarter. Median asset growth was 3.9 percent; the median rate of growth in deposits and shares was 4.1 percent; and the median loans-to-shares ratio was 63 percent.
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Asset growth
Nationally, median asset growth over the year ending in the second quarter of 2017 was 3.9 percent. In other words, the agency said half of all federally insured credit unions had asset growth at or above 3.9 percent and half had asset growth of 3.9 percent or less. In the year ending in the second quarter of 2016, the median growth rate in assets was 3.2 percent.
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Idaho leads in asset growth
At the median, assets rose in each state over the year ending in the second quarter of 2017. Median asset growth was highest in Idaho (9.0 percent), followed by Oregon (8.3 percent). Oregon had the highest median asset growth in Q1.
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DC, Arkansas lag in asset growth
For the fourth consecutive quarter, median asset growth was slowest in the District of Columbia (0.1 percent), followed by Arkansas (1.0 percent).
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Share and deposit growth
Nationally, median growth in shares and deposits over the year ending in the second quarter of 2017 was 4.1 percent. In the year ending in the second quarter of 2016, the median growth rate in shares and deposits was 3.3 percent.
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Growth streak continues in Oregon
At the median, shares and deposits rose in each state over the year ending in the second quarter of 2017. The median growth rate in shares and deposits was highest in Idaho (9.8 percent) and Oregon (9.1 percent). Oregon had the highest growth rate in shares and deposits in Q1.
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Still struggling in Arkansas
The median growth rate in shares and deposits was lowest in the District of Columbia (1.1 percent), followed by Arkansas and New Jersey (both 1.3 percent). In Q1 the median growth rate in shares and deposits was lowest in the District of Columbia and Arkansas.
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Membership growth
While overall membership in federally insured credit unions continued to grow in the year ending in the second quarter of 2017, at the median, membership declined 0.1 percent. Membership was unchanged at the median over the previous year. Overall, 50.3 percent of federally insured credit unions had fewer members at the end of the second quarter of 2017 than a year earlier. As previously reported by Credit Union Journal, CUs with falling membership tend to be small; about 75 percent had less than $50 million in assets.
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Still going strong in the northwest
Over the year ending in the second quarter of 2017, Washington had the highest median membership growth rate (2.7 percent), followed by Oregon and Alaska (both 2.4 percent). Alaska topped this category the previous two quarters, while Washington had the second highest median membership growth rate in Q1.
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Membership continues to slide in nearly half of all states
In 23 states, the median membership growth rate for federally insured credit unions was negative. At the median, membership declined the most in Pennsylvania (-1.4 percent), followed by the District of Columbia (-1.3 percent). Pennsylvania has had the largest or second-largest decline in this category for six consecutive quarters.
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Loan growth
Nationally, the median growth rate in loans outstanding was 4.4 percent over the year ending in the second quarter of 2017. The median loan growth rate during the previous year was 4.3 percent.
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Lending like gangbusters in the Silver State
At the median, loans outstanding rose in each state over the year ending in the second quarter of 2017. The highest median growth rate in loans outstanding was in Nevada (13.4 percent), followed by Washington (10.1 percent). Washington has been in the top three in this category for four consecutive quarters.
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Slow in Jersey
Median loan growth was slowest in Connecticut and New Jersey (both 0.9 percent), followed by Pennsylvania (2.1 percent). Pennsylvania and Connecticut have been among the slowest in median loan growth for four consecutive quarters.
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Delinquency rate largely unchanged
At the end of the second quarter of 2017, the median total delinquency rate among federally insured credit unions was 69 basis points, compared to 70 basis points in the second quarter of 2016.
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Delinquencies highest in Mississippi and New Jersey
At the end of the second quarter of 2017, the median delinquency rate was highest in New Jersey (155 basis points), followed by Mississippi (133 basis points). New Jersey has been atop this category for five straight quarters.
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New Hampshire delinquencies remain low
The median delinquency rate was lowest in Oregon (32 basis points), followed by New Hampshire (33 basis points). New Hampshire had the lowest delinquency rate in Q1.
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Loan-to-share ratios
Nationally, the median ratio of total loans outstanding to total shares and deposits (the loans-to-shares ratio) was 63 percent at the end of the second quarter of 2017. At the end of the second quarter of 2016, the median loans-to-shares ratio was 62 percent.
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Alaska soars in LTS ratio
The median loans-to-shares ratio was highest in Alaska (88 percent), followed by Idaho (87 percent). Alaska and Idaho were the co-leaders in this category in Q1, and Alaska has been in the top two in this category for six consecutive quarters.
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Loan-to-share ratio lowest in Delaware, Hawaii
The median loans-to-shares ratio was lowest in Delaware (45 percent), followed by Hawaii (48 percent). These two states have been the lowest in this category for six straight quarters.
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Median ROA
Nationally, the median annualized return on average assets at federally insured credit unions was 36 basis points during the first half of 2017, compared to 35 basis points during the first half of 2016.
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South Carolina a leader in ROA
Nevada (83 basis points) had the highest median return on average assets during the first half of 2017, followed by South Carolina (63 basis points). Nevada had the highest median return on average assets in Q1.
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ROA a struggle in Jersey, elsewhere
The District of Columbia (14 basis points) had the lowest median return on average assets, followed by New Jersey (20 basis points). New Jersey tied for the lowest median return on average assets in Q1.
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Positive net income
Nationally, 80 percent of federally insured credit unions had positive net income during the first half of 2017, compared to 79 percent in the first half of 2016. At least 57 percent of credit unions in every state had positive net income during the first half of 2017.
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Map of Portland Oregon
Oregon, Nevada have highest positive net income levels
The share of federally insured credit unions with positive net income was highest in Nevada (100 percent), followed by Oregon (97 percent). Oregon was first in this category the previous quarter.
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Arkansas, DC continue to struggle with profitability
The share was lowest in the District of Columbia (57 percent) and Arkansas (67 percent). Arkansas has been in the bottom two for four consecutive quarters.
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