PROVO, Utah–New data for credit union performance during Q4 of 2017 reveals some trendlines.
According to the Credit Union Industry Statistics and Performance Trends Report from CU Data, for Q4 2017:
- The overall number of credit unions (5,689) continues to shrink, although, the asset category size of $500M+ has shown some modest growth.
- The average ROA for all credit unions remained stable at 0.78%. The average ROA for the $500M+ asset category is slightly higher at 0.89%.
- Overall net income trend has shown nice improvement over the same period last year.
- Credit Union membership continues to grow, but the rate of growth has flattened out.
- Auto loan growth remained positive, although, the 12-month growth rate slowed to 11.3% as compared to 14.1% in 2016. New auto loan growth was 13.1%, while used auto loan growth was 10.2%
- Indirect auto loan growth slowed slightly in 2017 with a growth rate of 17.7%.
- Average loan to deposit ratio has crept up to 82.5%.
- Average loan delinquency remained steady at 0.81%, as well as net charge offs at 0.59%.
In addition, the net interest spread trends include:
- Yield on average loans 4.56%
- Yield on earning assets 3.75%
- Net interest spread 3.08%
- Yield on average investments 1.66%
- Cost of funds 0.67%