Webinar, resources: Here’s what to know about CDFI certification

As a benefit of membership in the New York Credit Union Association, credit unions considering CDFI certification can learn more about what it means to be a CDFI as well as what is involved the certification process (both the streamlined and standard application process), in a complimentary webinar at 3 p.m. on Monday, Sept. 20.

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Quarterly U.S. Map Review: Strong asset, share-and-deposit growth for credit unions

Federally insured credit unions experienced strong asset and share-and-deposit growth over the year ending in the second quarter of 2021, according to the latest NCUA Quarterly Map Review.

Nationally, median asset growth over the year ending in the second quarter of 2021 was 10.8%, compared to 10% in the year ending in the second quarter of 2020. The median growth in shares and deposits over the year ending in the second quarter of 2021 was 12.2%, compared to 11.1% a year ago.

Median asset growth was highest in Idaho (19.5%) and Nevada (16.8%), and at the median, assets grew the least in Washington, D.C. (5.5%) and New Jersey (7.2%), according to the report.

Among the other highlights in the report, compared to the second quarter of 2020:

  • the median growth rate of loans outstanding was 1.9%, compared to 0.2% over the year ending in the second quarter of 2020;
  • during the first half of 2021, 81% of federally insured credit unions had positive net income, compared to 80% during the first half of 2020; and
  • the median annualized return on average assets was 46 basis points in the first half of 2021, compared to 39 basis points in the first half of 2020.

The Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia and includes information on the unemployment rate and home prices, two important state-level economic indicators.