State-by-State: NCUA Review Maps Member Growth

Explosive membership growth has been a central story for credit unions over the past year, and the National Credit Union Administration's (NCUA) latest quarterly state-by-state review of the financial performance of federally insured credit unions shows that credit unions in five states have seen growth rates of above 5% for that period: Alaska, Idaho, New Hampshire, Virginia and Washington.

Thirteen states, including Florida, New York, Oregon and Texas, saw credit union membership growth rates of between 3% and 5%,  while most  states saw their credit union membership grow by at least 1%.

The membership information is part of the agency's quarterly state-by-state breakdown of key financial indicators. This month's data feature information on Return on Average Assets (ROA), delinquency rates, annualized net charge-off rates, and asset, share, deposit and loan growth at the nation's credit unions.

State employment rates and state home price indices tables are also included in the NCUA data release.

The agency noted that balances on outstanding loans increased by 4.3% for the year ending in the third quarter. This growth was strongest in New York, Iowa, Tennessee, North Dakota and New Hampshire. Nevada, Montana and New Jersey were the only states to experience credit union lending declines in the last 12 months, the agency added.

"Consumer credit drives the economy, and credit unions provide consumers with access to the credit needed to buy homes, purchase cars, and pay for groceries at the store," NCUA Chairman Debbie Matz said. "Credit unions kept credit available during the recession. That commitment to members and to local economies is now, literally, paying off in the form of growing loan balances. What's more, these loans are a prudent investment for credit unions.

Delinquency rates have stayed low, and charge-offs have declined in most states," she added.

For the full NCUA release, click here.