NCUA has released data on the financial performance of federally insured credit unions for the quarter ending Dec. 31, 2018. The data shows that as of Dec. 31, there were 5,375 federally insured credit unions with 116.2 million members.
According to the data:
- total assets in federally insured credit unions rose by $75 billion, or 5.4 percent, over the year ending in the fourth quarter of 2018, to $1.45 trillion;
- the delinquency rate at federally insured credit unions was 71 basis points in the fourth quarter of 2018, down from 81 basis points from 2017;
- total loans outstanding increased $86 billion, or 9 percent, over the year to $1 trillion;
- insured shares and deposits rose $53 billion, or 4.9 percent, over the four quarters ending in 2018 to $1.14 trillion;
- the number of low-income designated credit unions rose to 2,554 in the fourth quarter of 2018 from 2,542 in 2017;
- the credit union system’s net worth ratio was 11.30 percent in the fourth quarter of 2018, compared with 10.95 percent one year earlier; and
- federally insured credit unions added 4.9 million members over the year, and credit union membership in these institutions reached 116.2 million in the fourth quarter of 2018.
To download NCUA’s fourth quarter Quarterly Credit Union Data Summary, click here.
The New York Credit Union Association, in conjunction with CUNA, will be releasing the 2018 Year End New York Credit Union Profile report in the weeks ahead. The report will provide in-depth analyses, figures and comparisons specifically for New York’s credit unions.