ALEXANDRIA, Va.–Total assets in federally insured credit unions rose by $75 billion, or 5.4%, over the year ending Dec. 31, 2018, while loans were up $86 billion and crested $1 trillion, according to the latest Quarterly Credit Union Data Summary from NCUA
Using using Call Report data for Q4 2018, NCUA said the year closed with 5,375 federally insured credit unions with 116.2 million members.
Among the data points released by NCUA for Dec. 31, 2018:
- Total assets in federally insured credit unions rose by $75 billion, or 5.4%, over the year ending in the fourth quarter of 2018, to $1.45 trillion.
- Total loans outstanding increased $86 billion, or 9.0%, over the year to $1.0 trillion. The average outstanding loan balance in the fourth quarter of 2018 was $15,300, up $494, or 3.3%, from one year earlier.
- The delinquency rate at federally insured credit unions was 71 basis points in the fourth quarter of 2018, down from 81 basis points from one year earlier.
- The net charge-off ratio was 58 basis points, down slightly from 60 basis points in the fourth quarter of 2017.
- Insured shares and deposits rose $53 billion, or 4.9%, over the four quarters ending in the fourth quarter of 2018 to $1.14 trillion.
- The loan-to-share ratio stood at 85.6% in the fourth quarter of 2018, up from 82.6% in the fourth quarter of 2017.
- The credit union system’s net worth ratio was 11.30% in the fourth quarter of 2018, compared with 10.95% one year earlier.
- Net income totaled $13.0 billion at an annual rate in the fourth quarter of 2018, up $2.7 billion, or 25.8%, from the same period a year ago.
- The net interest margin for federally insured credit unions was $44.3 billion in the fourth quarter of 2018, or 3.1% of average assets. That compares with $39.9 billion, or 3.0% of average assets, in the fourth quarter of 2017.
- The return on average assets for federally insured credit unions was 92 basis points over the year ending in the fourth quarter of 2018, up from 78 basis points in the fourth quarter of 2017. The median return on average assets across all federally insured credit unions was 57 basis points, up 19 basis points from the fourth quarter of 2017.
- The number of federally insured credit unions declined to 5,375 in the fourth quarter of 2018 from 5,573 in the fourth quarter of 2017. In the fourth quarter of 2018, there were 3,376 federal credit unions and 1,999 federally insured, state-chartered credit unions. The year-over-year decline is consistent with long-running industry consolidation trends.
- The number of credit unions with a low-income designation rose to 2,554 in the fourth quarter of 2018 from 2,542 one year earlier.
- Federally insured credit unions added 4.9 million members over the year, and credit union membership in these institutions reached 116.2 million in the fourth quarter of 2018.
For more detail around the numbers, a copy of the Quarterly Credit Union Data Summary can be found in CUToday.info’s The Gov here.