Where the Growth Is: State-by-State Data
March 14, 2016 11:00 AM
NCUA has sliced and diced the 2015 results to show in which states credit unions are thriving
and not.
Federally-insured credit unions in all fifty states showed positive median growth rates for loans, assets, shares and deposits in 2015, according to a new report released Friday by NCUA.
On a national basis, federally-insured credit unions delivered 4.0% median loan growth for the year (up from 3.8% in 2014), while median asset growth amounted to 3.3% (up from 2.0% in 2014), and median growth in shares and deposits clocked in at 3.6% (double the 1.8% figure from the prior year).
The median loan-to-share ratio was 62% at the end of the fourth quarter of 2015, up slightly from 61% a year earlier. The median total delinquency rate slipped to 0.8% from 0.9% in the year-ago period.
On a national basis, federally-insured credit unions delivered 4.0% median loan growth for the year (up from 3.8% in 2014), while median asset growth amounted to 3.3% (up from 2.0% in 2014), and median growth in shares and deposits clocked in at 3.6% (double the 1.8% figure from the prior year).
The median loan-to-share ratio was 62% at the end of the fourth quarter of 2015, up slightly from 61% a year earlier. The median total delinquency rate slipped to 0.8% from 0.9% in the year-ago period.
Washington and Alaska
Drilling down into state-level data, credit unions in two states in the Pacific Northwest, Washington and Alaska, produced the highest median growth rates for loans at 9.0% and 8.0%, respectively.
Arkansas and Pennsylvania
On the other end of the spectrum, credit unions in Arkansas (0.1%) and Pennsylvania (0.7%) evinced the slowest median growth rate for loans.
New Hampshire and Idaho
With respect to median asset growth, credit unions in New Hampshire (7.1%) and Idaho (7.0%) showed the highest rates.
New Jersey and Delaware
Meanwhile, credit unions in the industrial Mid-Atlantic states of New Jersey (0.7%) and Delaware (1.2%), suffered the slowest growth rates.
Idaho and New Hampshire
The median growth rate in shares and deposits was highest for credit unions in Idaho (7.5%) and New Hampshire (7.1%).
Delaware and New Jersey
Again, credit unions in New Jersey (0.5%) and Delaware (1.2%) delivered the slowest growth rates in this category.
Idaho and Alaska
The median loan-to-share ratio came in highest among credit unions in Idaho (88%) and Alaska (83%).
Hawaii and Delaware
The median loan-to-share ratio was lowest for credit unions in Hawaii (43%) and Delaware (45%).
New Jersey, Delaware and Washington, D.C.
The highest median delinquency rates were found in credit unions in New Jersey (1.6%), followed by Delaware and the District of Columbia (both 1.5%).
North Dakota and South Dakota
The lowest median delinquency rates were reported at credit unions in North and South Dakota (both at 0.4%).
Membership Growth
Although overall membership continued to grow, such growth was concentrated in larger credit unions. In addition, the median rate of membership growth was negative 0.2%, down slightly from negative 0.3% in the prior year.
Moreover, more than half (52%) of all federally insured credit unions in the country had fewer members than in the prior year reflecting the fact that membership continues to decline at smaller credit unions. About three-fourths (75%) of credit unions which lost membership last year had less than $50 million in assets.
Moreover, more than half (52%) of all federally insured credit unions in the country had fewer members than in the prior year reflecting the fact that membership continues to decline at smaller credit unions. About three-fourths (75%) of credit unions which lost membership last year had less than $50 million in assets.
Alaska, Idaho and Maine
State-wise, credit unions in Alaska (3.9%) showed the highest median membership growth rate, followed by credit unions in Idaho and Maine (both at 1.9%). NCUA noted that Alaska, Idaho and Maine all have small populations, which means rate of membership growth may be coming off a lower base than for more populous states.
Pennsylvania
Median membership growth came in negative in twenty states, with credit unions in Pennsylvania (-2.1%) at the very bottom.
Utah and North Dakota
The aggregate return-on-average-assets at federally insured credit unions was 75 basis points last year, down from 80 basis points in 2014. Still, the aggregate return-on-average-assets was positive in every state during 2015, with credit unions in Utah (134 basis points) showing the highest aggregate return, followed by North Dakota (109 basis points).
New Jersey and Connecticut
On the other end, credit unions in New Jersey (21 basis points) and Connecticut (30 basis points) reported the lowest aggregate returns on average assets.
