ALEXANDRIA, Va. – Idaho and Arizona led federally insured CUs in median loan growth for the year ending March 31 2015, while Alaska and Idaho topped FICUs for asset growth during the same period, according to NCUA state-level data.
But although overall credit union membership growth has been robust, the NCUA data shows that over that same time membership growth was negative in nearly half of the U.S. states.
Overall, FICU median loan growth was 4%. Idaho showed 13.4% median loan growth and Arizona (9.6%). Median loan growth was slowest in Arkansas (0.5%).
Nationally, the median ratio of loans outstanding to total shares and deposits was 59% at the end of the first quarter of 2015, compared to 57% at the end of the first quarter of 2014, NCUA said as part of its just-released state-by-state analysis of credit union data. The median loan-to-share ratio was highest among credit unions in Idaho (86%), followed by Wisconsin and Maine (both 78%). The median loan-to-share ratio was lowest in Hawaii and Delaware (both 41%).
Median asset growth was highest in Alaska (5.6%) and Idaho (4.8%). New Jersey (-0.6%) and the District of Columbia (-0.2%) had negative median asset growth over the year, NCUA said. Median asset growth was 1.8% nationally in the year ending in the first quarter of 2015, up from 1.5% a year earlier.
Nationally, the annualized aggregate return on average assets at federally insured credit unions was 78 basis points during the first quarter of 2015, matching the return during the first quarter of 2014. The aggregate return on average assets was positive in each state during the first quarter.
Utah (136 basis points) had the highest aggregate returns, followed by Iowa and Washington (both 103 basis points). New Jersey (23 basis points) and Connecticut (29 basis points) posted the lowest aggregate returns on average assets.
Alaska (5.4%) and Montana (4.9%) showed the highest median growth rates for shares and deposits. At the median, shares and deposits fell in New Jersey (-1.0%), Delaware (-0.4%) and Ohio (-0.1%). Nationally, federally insured credit unions’ median growth rate for shares and deposits was 1.6% in the year ending in the first quarter of 2015, up slightly from the median growth rate of 1.5% during the previous year.
The District of Columbia (1.6%) posted the highest median delinquency rate, followed by New Jersey (1.4%). North Dakota and New Hampshire (both 0.2%) had the lowest median delinquency rate. The median delinquency rate at federally insured credit unions was 0.7% nationally in the first quarter of 2015, down from 0.8% a year earlier.
While overall membership in federally insured credit unions continued to grow in the year ending Q1 2015, it continued to be concentrated in larger institutions, NCUA explained. The median membership growth rate was negative 0.4%. Nationally, 53% of federally insured credit unions lost membership over the year, and 75% of those had assets of less than $50 million.
Alaska (3.1%) had the highest median membership growth rate, followed by Idaho (1.9%). Median membership growth was negative in 23 states, with Pennsylvania and Virginia (both -1.9%) ranking lowest.