ALEXANDRIA, Va.–In releasing its Quarterly Credit Union Data Summary for the second quarter of 2023, NCUA has broken out performance data it now captures for minority depository institutions (MDIs) that it says show the segment is performing strongly.
“Although the total assets of MDI's average about $133 million, their return on average assets was as strong as credit unions with greater than $1 billion in assets,” said NCUA Chairman Todd Harper. “Both types of credit unions reported a return on average assets of 82 basis points. That's better than all other peer groups. Second, the MDI delinquency rate was 53 basis points. That's five basis points lower than the delinquency rate of the largest credit unions holding more than $1 billion in assets.
“What both of these MDI data points tell me is that small credit unions with a strategic focus and good leadership can to keep and remain viable in the present economic environment,” Harper said.
The MDI data can be seen in the chart below, in addition to other categories.