ALEXANDRIA, Va.– Federally insured credit unions across the country generally saw continued positive trends in the first quarter of 2018, with Oregon and Washington seeing the highest media loan growth rates, and Hawaii, Arkansas and New Jersey (the only state with a decline in growth) seeing the lowest median loan growth rates.
According to the new NCUA Quarterly U.S. Map Review, nationally, median loan growth in federally insured credit unions was 5.0% during the year ending in the first quarter. Median asset growth was 2.2%; the median rate of growth in shares and deposits was 2.1%; and the median loans-to-shares ratio was 64%.
Nationally, median growth in loans outstanding was 5.0% over the year ending in the first quarter of 2018, up from 4.4% during the previous year, NCUA said.
The highest median loan growth rates were in Oregon (11.0%) and Washington (10.3%). The lowest median loan growth rates were in Hawaii (1.7%) and Arkansas (1.9%). New Jersey (‑0.3%) was the only state reporting a decline in median loan growth.
Here is how credit unions performed by state in various categories:
Asset Growth
Median asset growth was 2.2% nationally in the year ending in the first quarter of 2018, down from 3.9% the year before, NCUA said.
Median asset growth was fastest in Vermont (7.3%), followed by Idaho (6.9%). At the median, assets grew the least in Arkansas (0.1%) and Kansas (0.4%). Median asset growth was negative in Louisiana (-0.7%) and New Jersey (-0.3%).
Net Income
Nationally, 83% of federally insured credit unions had positive net income during the first quarter of 2018, compared to 77% in the first quarter of 2017. At least 60% of credit unions in every state had positive net income during the first quarter of 2018, NCUA said.
The share of federally insured credit unions with positive net income was highest in Oregon (97%), followed by Idaho, Maine, and Wisconsin (all 96%). The share of federally insured credit unions with positive net income was lowest in the District of Columbia (64%), followed by Louisiana (73%), according to NCUA
Shares & Deposits
At the median, shares and deposits rose 2.1% nationally over the year ending in the first quarter of 2018, down from 4.2% a year earlier.
Over the year ending in the first quarter, median growth in shares and deposits was highest in Vermont (5.9%) and Idaho (5.8%), NCUA said.
Shares and deposits grew the least in Kansas, Mississippi, and North Dakota (all 0.2%). Median growth in shares and deposits was negative in Louisiana (-1.2%) and New Jersey (-0.3%).
Median Return on Average Assets
Nationally, the median annualized return on average assets at federally insured credit unions was 48basis points during the first quarter of 2018, compared to 32 basis points a year earlier.
Nevada (89 basis points) had the highest median annualized return on average assets during the first quarter of 2018, followed by South Carolina (88 basis points). New Jersey (29 basis points) had the lowest median return on average assets, followed by Connecticut and Massachusetts (both 34 basis points), according to the NCUA data.
Median Loan-to-Share Ratios
Nationally, the median ratio of loans outstanding to total shares and deposits—the loans-to-shares ratio—was 64% during the first quarter of 2018, compared to 62% a year earlier, NCUA said.
The median loans-to-shares ratio was highest among credit unions in Idaho (88%) and Vermont (86%). The median loans-to-shares ratio was lowest in Delaware (47%), followed by New Jersey (48%).
Delinquencies
The median total delinquency rate among federally insured credit unions was 60 basis points at the end of the first quarter of 2018, compared to 63 basis points a year earlier, NCUA reported.
At the end of the first quarter of 2018, the median delinquency rate was lowest in New Hampshire (22 basis points) and Oregon (23 basis points). New Jersey (142 basis points) reported the highest median delinquency rate, followed by the District of Columbia (117 basis points).
Membership Growth
Alaska (3.7%) posted the highest median membership growth rate in the first quarter of 2018, followed by Vermont (3.3%).
Median membership growth was negative in 18 states. At the median, membership declined the most in the District of Columbia (-2.1%), followed by Pennsylvania (-1.3%), NCUA said.
At the median, membership growth in federally insured credit unions nationally was roughly unchanged from the previous year. Overall, almost half of federally insured credit unions had fewer members at the end of the first quarter of 2018 than a year earlier. Credit union membership continued to be strongest in larger institutions; about 75% of credit unions with declining membership had assets below $50 million.
The NCUA Quarterly U.S. Map Review is available here.