State CUs build share of total assets, memberships in Q3

Dec. 5, 2016 -- State chartered credit unions now hold nearly 48.7% of all credit union assets, according to third-Growth comparision FISCUs/FCUs 3Q'16quarter figures released by NCUA today (and numbers compiled by NASCUS), an increase for the state financial institutions of 6.7% since the beginning of the year.

The nation’s more than 2,300 state-chartered credit unions (both federally and privately insured) now hold nearly $631 billion in assets, according to the third-quarter numbers. Meanwhile, memberships among the state chartered credit unions has pushed to 51.2 million members, a 3% increase since the end of 2015.

Total assets for all credit unions, as of Sept.30, stood just shy of $1.3 trillion, with more than 107 million memberships across 5,966 credit unions.

In other figures comparing federal credit unions to state chartered, federally insured institutions, the state-chartered credit unions showed slightly higher returns on average assets (0.79 to 0.78 for FCUs), slightly lower net worth ratios (10.78% to 10.91% for FCUs), and nearly identical loan to share ratios (78.8% to 78.4%), the NCUA numbers show.

However, state charters outperformed FCUs in delinquency rates (0.75 to 0.79), net charge offs (0.35 to 0.45) and net interest margins (3.04 to 2.96).

Additionally, the state credit unions grew at a faster clip in memberships (5.2% to 3%), assets (10.7% to 6%) and loans (12.5% to 7.9%).


NCUA 3rd Quarter data summary