Data for federally insured credit unions as of the mid-year mark shows total assets rapidly approaching $1.5 trillion, even as the number of credit unions continues to decline. The data shows that as of June 30, there were 5,480 federally insured credit unions with 114.1 million members.
The summary shows that:
- total assets in federally insured credit unions rose by $79 billion, or 5.8 percent, over the year ending in the second quarter of 2018, to $1.43 trillion;
- the delinquency rate at federally insured credit unions was 67 basis points in the second quarter of 2018, down from 75 basis points in 2017;
- total loans outstanding increased $89 billion, or 9.8 percent, over the year to $1 trillion;
- insured shares and deposits rose by $56 billion, or 5.2 percent over the four quarters ending in the second quarter of 2018, to $1.13 trillion;
- the number of low-income designated credit unions rose to 2,544 in the second quarter of 2018 from 2,524 one year earlier;
- the credit union system’s net worth ratio was 11.01 percent, compared with 10.80 percent in 2017; and
- federally insured credit unions added 4.8 million members over the year, and credit union memberships in these institutions reached 114.1 million in the second quarter of 2018.
To download the complete second quarter Quarterly Credit Union Data Summary, click here.