According to the data:
- total assets in federally insured credit unions rose by $90 billion, or 6.3 percent, over the year ending in the first quarter of 2019, to $1.51 trillion;
- the delinquency rate at federally insured credit unions was 58 basis points in the first quarter of 2019, down from 66 basis points in 2018;
- total loans outstanding increased $76 billion, or 7.9 percent, over the year to $1 trillion;
- the average outstanding loan balance in the first quarter of 2019 was $15,420, up $385, or 2.6 percent, from one year earlier;
- insured shares and deposits rose by $62 billion, or 5.5 percent, over the four quarters ending in the first quarter of 2019, to $1.19 trillion;
- the number of low-income designated credit unions rose to 2,571 in the first quarter of 2019 from 2,544 one year earlier;
- the credit union system’s net worth ratio was 11.14 percent, compared with 10.89 percent in 2018; and
- federally insured credit unions added 4.6 million members over the year, and credit union memberships in these institutions reached 117.3 million in the first quarter of 2019.
To download the complete second quarter Quarterly Credit Union Data Summary, click here.
In the weeks ahead, the New York Credit Union Association and CUNA will provide member credit unions with First Quarter 2019 New York Credit Union Profile Report. That report provides relevant and up-to-date analysis of key statistics and trends that impact the performance of New York credit unions.