ARLINGTON, Va.—The credit union industry’s net worth ratio is up over 40 basis points from a year ago, while in the second quarter industry consolidation, member and loan growth all slowed, according to NAFCU’s latest CU Industry Trends report.
Industry earnings dropped during the second quarter, partly reflecting the rising expenses for loan loss provisions. Rising interest rates have also caused a decrease in investment valuations, which are down over 10% since June 2020, NAFCU’s data show.
According to NAFCU, other key data from the second quarter trends report show:
- Alabama, Arizona, Florida, and Idaho saw the highest member growth
- Alabama, South Dakota, Utah, and Wisconsin saw the highest loan growth
NCUA also recently released its Quarterly U.S. Map Review, which contains even more detailed data on a state-by-state basis. More on what that report revealed can be found here.
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