WASHINGTON, DC (August 29, 2013) -- National Association of Federal Credit Unions (NAFCU) President and CEO B. Dan Berger said the National Credit Union Administrations’ (NCUA) second-quarter 2013 call report data showcases the value of the credit union to the nation’s economy with higher loan growth which exceeded share growth for the first time in five years.
“The NCUA’s second-quarter call report data validates the fact that credit unions are helping to keep our economy moving by continuing to provide their members with low-cost, high quality loans despite the challenging lower interest rate environment,” said Berger.
Highlights of NCUA's 2013 second-quarter call report data include:
- Credit union membership was up more than 2.1 million, year over year. For the second quarter of 2013, credit union membership increased by 560,000.
- Deposits (shares) grew by 4.7 percent, year over year, to $909 billion, with the loan-to-share ratio increasing 0.5 percentage points from last June.
- Assets increased 4.8 percent, year over year, to $1.06 trillion, up from $1.01 trillion a year ago.
- Net worth increased 8.3 percent, year over year, to $111 billion, up from $102.4 billion a year ago.
- Delinquency ratio and net charge-offs are significantly lower than they were a year ago.
- Total loans increased 5.5 percent, year over year, to $613.7 billion and business lending rose by 2.3 percent for the quarter and 8.3 percent since June 2012.
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