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Q1 results
NCUA on Monday 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 first quarter of 2017.” Some highlight figures: nationally, for the year ending March 31, 2017, median loan growth in federally insured credit unions was 4.4 percent, median asset growth was 3.9 percent, the median rate of growth in deposits and shares was 4.2 percent, and the median loans-to-shares ratio was 62 percent.
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Median asset growth
Nationally, median asset growth over the year ending in the first 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 first quarter of 2016, the median growth rate in assets was 2.9 percent.
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Oregon and Maine lead in assets
At the median, assets rose in each state over the year ending in the first quarter of 2017. Median asset growth was highest in Oregon (9.3 percent), followed by Maine (8.0 percent).
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Arkansas and DC at the bottom for assets
For the third consecutive quarter, median asset growth was slowest in Arkansas and the District of Columbia (both 0.4 percent), followed by Louisiana (1.4 percent).
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Share and deposit growth
Nationally, median growth in shares and deposits over the year ending in the first quarter of 2017 was 4.2 percent. In the year ending in the first quarter of 2016, the median growth rate in shares and deposits was 3.0 percent.
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Maine and Oregon lead in shares and deposits
At the median, shares and deposits rose in each state over the year ending in the first quarter of 2017. The median growth rate in shares and deposits was highest in Oregon (9.5 percent) and Maine (8.6 percent).
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DC, Arkansas lag
The median growth rate in shares and deposits was lowest in the District of Columbia (0.9 percent) and Arkansas (1.0 percent).
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Membership growth
While overall membership in federally insured credit unions continued to grow in the year ending in the first quarter of 2017, at the median, membership declined 0.1 percent. Membership was unchanged at the median over the previous year. Overall, 51 percent of federally insured credit unions had fewer members at the end of the first 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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Alaska, Washington State lead in membership growth
Over the year ending in the first quarter of 2017, Alaska had the highest median membership growth rate (2.6 percent), followed by Washington (2.4 percent). Alaska topped this category for the second consecutive quarter.
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Membership slide continues in Pennsylvania
In 22 states, the median membership growth rate for federally insured credit unions was negative. At the median, membership declined the most in the District of Columbia (-2.4 percent), followed by Pennsylvania (-1.5 percent). Pennsylvania has had the largest or second-largest decline in this category for five consecutive quarters.
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Median loan growth largely unchanged
Nationally, the median growth rate in loans outstanding was 4.4 percent over the year ending in the first quarter of 2017. The median loan growth rate during the previous year was 4.5 percent.
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Strong lending out west
At the median, loans outstanding rose in each state over the year ending in the first quarter of 2017. The highest median growth rate in loans outstanding was in Oregon (10.9 percent), followed by Nevada and Washington (both 9.4 percent). Oregon and Washington have been in the top three for three consecutive quarters.
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Slow loan growth in parts of the northeast
For the third consecutive quarter, median loan growth was slowest in Pennsylvania (1.1 percent) and Connecticut (1.3 percent).
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Delinquency rates continue to drop
At the end of the first quarter of 2017, the median total delinquency rate among federally insured credit unions was 63 basis points, down from 68 basis points in the first quarter of 2016.
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New Jersey leads delinquencies
At the end of the first quarter of 2017, the median delinquency rate was highest in New Jersey (149 basis points), followed by West Virginia (112 basis points). New Jersey has been atop this category for four straight quarters.
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Delinquencies lowest in New Hampshire, California
At the end of the first quarter of 2017, the median delinquency rate was lowest in New Hampshire (22 basis points), followed by California (30 basis points).
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Loan-to-shares ratio essentially unchanged
Nationally, the median ratio of total loans outstanding to total shares and deposits (the loans-to-shares ratio) was 62 percent at the end of the first quarter of 2017. At the end of the first quarter of 2016, the median loans-to-shares ratio was 61 percent.
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Idaho, Alaska see highest median loan-to-shares ratios
The median loans-to-shares ratio was highest in Alaska and Idaho (both 85 percent), followed by Maine and Wisconsin (both 80 percent). Alaska has been in the top two in this category for five consecutive quarters.
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Hawaii, Delaware continue poor LTS showing
The median loans-to-shares ratio was lowest in Delaware (43 percent), followed by Hawaii (46 percent). These two states have been the lowest in this category for five straight quarters.
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Median ROA
Nationally, the median annualized return on average assets at federally insured credit unions was 33 basis points during the first quarter of 2017, matching the rate during the first quarter of 2016.
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Nevada sees highest ROA
Nevada (72 basis points) had the highest median return on average assets during 2017, followed by Oregon (59 basis points).
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Ohio, New Jersey and Connecticut see lowest ROA
New Jersey and Connecticut (both 19 basis points) had the lowest median return on average assets, followed by Ohio (20 basis points).
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Most CUs have positive net income
Nationally, 77 percent of federally insured credit unions had positive net income during the first quarter of 2017, compared to 78 percent in the first quarter of 2016. At least 60 percent of credit unions in every state had positive net income during the first quarter of 2017.
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The share of federally insured credit unions with positive net income was highest in Oregon (97 percent), followed by Maine and Iowa (both 93 percent). Iowa was first in this category the previous quarter.
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Arkansas, Mississippi at the bottom for net income
The share of federally insured credit unions with positive net income was lowest in Arkansas (64 percent) and Mississippi (67 percent). Arkansas has been in the bottom two for three consecutive quarters.
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