Assets, members grow through 3rd quarter at FISCUs
Dec. 11, 2015 -- Asset and member numbers have expanded at federally insured, state-chartered credit unions through the first three quarters of the year – but the number of FISCUs has declined over that time, according to third-quarter data on federally insured credit unions released by NCUA and analyzed by NASCUS.
After the first three quarters of 2015, assets at FISCUs expanded by 5.38% to $555.6 billion. The median asset growth, by state, was 4.08%, the NCUA numbers show. States leading in asset growth were Colorado (15%), Idaho (11.62%) and West Virginia (8.42%). FISCU assets accounted for 47.1% of all assets in federally insured credit unions (up from 46.9% at year-end 2014).
Membership over the first three quarters of the year at FISCUs grew by 3.32% (or 1.5 million), for a total of 47.5 million. Median member growth, by state, was 2.64%. States leading in membership growth among FISCUs were Colorado (9.13%), Oregon (5.14%) and New Mexico and Washington (both at 4.94%). Memberships at FICSUs accounted for 46.5% of all members at in federally insured credit unions, up from 46.33% at year-end 2014.
The number of FISCUs, however, has declined by 71 (or just about 3%), to fall to 2,276 from 2,347. FISCUs make up 37.37% of all federally insured credit unions – but that’s up from the year-end 2014, when FISCUs accounted for 34.91% of the FICU universe. Twenty-four states saw no change in the number of FISCUs. However, among those that did see declines were Michigan (with 12 – for a total of 162 at the end of third quarter), Wisconsin (nine, for a total of 152), Illinois (eight, for a total of 204) and Iowa (seven, for a total of 99).