We have issued our Credit Union Trends Report for November 2015 (based on September 2015 data). See the highlights below, or
click here for the full report.
- During September, credit unions picked
up 477,000 in new memberships, loan
balances grew at a 10.5% annualized
pace, savings balances rose 0.2%, firms
hired 137,000 workers, nominal consumer
spending increased 0.1%, and long-term
interest rates increased 2 basis points.
Third quarter economic growth came in at
1.5% and grew 2% from the third quarter
of 2014.
- At the end of August, CUNA’s monthly
estimates reported 6,300 CUs in
operation, down 29 credit unions from one
month earlier. Year-over-year, the number
of credit unions declined by 292, more
than the 272 lost in the 12 months ending
in September 2014.
- Total credit union assets rose 0.1% in
September, faster than the -0.8% decline
reported in September of 2014. Assets
rose 6.4% during the past year due to a
5.7% increase in deposits, a 17.1%
increase in borrowings, and a 7.5%
increase in capital.
- The nation’s credit unions increased their
loan portfolios by 1.2% in September,
more than the 0.8% pace reported in
September 2014. Loan balances are up
11.0% during the last 12 months.
September is historically the month where
seasonal factors have little to no effect on
trend growth.
- Credit union memberships rose a robust
0.46% in September, up from a 0.3% gain
reported in September 2014.
Memberships are up 3.9% during the past
year due to robust demand for credit,
solid job growth and comparatively lower
fees and loan interest rates.
- Credit union capital-to-asset ratios rose to
10.9% in September, up from 10.8%
reported one year ago. Credit union loan
delinquency rates fell to 0.73% in
September, down from 0.85% one year
earlier due to a stronger economy and
double digit loan growth. Expect both
credit unions and bank to loosen credit standards in 2016
