Q3 NCUA data summary report: Loans outstanding, assets rise

On By nycuaIn NY Minute

Total loans outstanding in federally insured credit unions increased $235 billion, or 19.2%, over the year ending in the third quarter of 2022, to $1.46 trillion, according to data released by the NCUA on Thursday. During the same period, total assets rose by $132 billion, or 6.6%, to $2.15 trillion.

Other highlights from the NCUA’s Quarterly Data Summary Report include:

  • As of Sept. 30, 2022, there were 4,813 federally insured credit unions with 134.3 million members.
  • Net income for federally insured credit unions totaled $18.5 billion at an annual rate in the first three quarters of 2022, down $3.0 billion, or 14.1%, from the same period a year ago.
  • Interest income rose $9 billion, or 15.3%, over the year to $67.4 billion.
  • Non-interest income fell $3.4 billion, or 12.8%, to $23.4 billion, largely due to a drop in other income.
  • The credit union system’s provision for loan and lease losses or credit loss expenses increased $3.2 billion, or 257.3%, to $4.4 billion at an annual rate in the first three quarters of 2022.
  • Credit union loan balances rose in all major categories compared with the third quarter of 2021.
  • The delinquency rate at federally insured credit unions was 53 basis points in the third quarter of 2022, up 7 basis points compared with the third quarter of 2021.
  • Credit union shares and deposits rose by $110.9 billion, or 6.3%, over the year to $1.86 trillion in the third quarter of 2022.
  • Regular shares increased $39.5 billion, or 6.2%, to $679.5 billion. Other deposits increased $37.2 billion, or 4.9%, to $791.5 billion, led by money market accounts, which grew $24.0 billion, or 6.1%, over the year.
  • The credit union system’s net worth increased by $21.3 billion, or 10.3%, over the year to $227.8 billion.
  • The aggregate net worth ratio stood at 10.59%, up from 10.23% one year earlier.

The NCUA’s Quarterly Credit Union Data Summary provides an overview of the financial performance of federally insured credit unions based on information reported to the agency in the third quarter of 2022.

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