Skip to main content

Federally Insured Credit Unions Assets Grow $113B During 2019, But Small CUs Still Struggling


ALEXANDRIA, Va.–Federally insured credit unions during 2019 grew total assets by $113 billion (7.8%), loans by $64 billion (6.2%) and membership was up by 4.2 million, according to NCUA’s Quarterly Credit Union Data Summary for Q4 2019.

Credit unions also showed improvements in net interest margins and ROA. But CUs in the smallest asset categories once again showed declines in lending and membership.
The data is based on call reports from 5,236 federally insured CUs, representing approximately 120.4 million members.
According to the report, here’s how credit unions performed during Q4 and 2019:

 Performance by Asset Category
In its analysis, NCUA once again noted consistent with long-running trends, credit unions with assets of at least $1 billion reported the strongest growth in loans, membership, and net worth over the year ending in the fourth quarter of 2019. Credit unions with less than $500 million in assets reported declines in those categories over the year.
Specifically:
  • The number of federally insured credit unions with assets of at least $1 billion increased to 330 in the fourth quarter of 2019 from 308 in the fourth quarter of 2018. These 330 credit unions held $1.1 trillion in assets or 68% of total system assets. Credit unions in this category reported loan growth of 9.7%. Membership rose 8.4%. Net worth increased by 12.4%.
  • The number of federally insured credit unions with assets of at least $500 million but less than $1 billion rose to 247 in the fourth quarter of 2019 from 237 in the fourth quarter of 2018. These 247 credit unions held $172.7 billion in total assets, or 11% of total system assets. Credit unions in this category reported a 1.9% increase in total loans outstanding over the year. Membership rose 0.3% and net worth increased by 3.3%.
  • The number of federally insured credit unions with at least $100 million but less than $500 million in assets declined to 1,018 in the fourth quarter of 2019 from 1,026 in the fourth quarter of 2018. These 1,018 credit unions held $227.8 billion in total assets or 15% of total system assets. Credit unions in this category reported a 3.0% decline in total loans outstanding. Membership fell 4.6%. Net worth edged up 0.6%.
  • The number of federally insured credit unions with at least $50 million but less than $100 million in assets declined to 677 in the fourth quarter of 2019 from 688 in the fourth quarter of 2018. These 677 credit unions held $48.5 billion in total assets or 3% of total system assets. Credit unions in this category reported a 2.4% decrease in total loans. Membership fell 4.3%. Net worth rose by 1.1%.
  • The number of federally insured credit unions with assets of at least $10 million but less than $50 million declined to 1,635 in the fourth quarter of 2019 from 1,695 in the fourth quarter of 2018. These credit unions held $41.3 billion in assets or 3% of total system assets. Credit unions in this category reported a 3.0% decrease in loans. Membership declined by 5.8%. Net worth fell 1.0%.
  • The number of federally insured credit unions with less than $10 million in assets declined to 1,329 in the fourth quarter of 2019 from 1,421 in the fourth quarter of 2018. These credit unions held $5.5 billion in assets or 0.4% of total system assets. Credit unions in this category reported a 7.0% decline in loans. Membership fell 9.1%. Net worth declined by 4.6%. 

The full report can be found here.

Rember, "You're Not Alone With NCOFCU"!

See you in New Orleans 10/2-10/20


Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Digital Payments Lead the Way Globally: Key Insights from Worldpay Study

According to a recent Worldpay study, digital payments are rapidly becoming the preferred choice worldwide. The research highlights significant shifts in consumer behavior and payment preferences, driven by technological advancements and the growing acceptance of cashless transactions. Key findings from the study reveal that digital payments now account for a substantial portion of global transactions. Mobile wallets, contactless payments, and online banking are gaining traction, reflecting consumers' desire for convenience and speed. This trend is especially prominent in regions like Asia Pacific, where mobile payment adoption is leading the charge. The study also emphasizes the importance of security in fostering consumer trust in digital payments. As fraud concerns continue to rise, businesses must prioritize robust security measures to protect customer information and enhance the payment experience. Moreover, the transition to digital payments is not just about c...
Post a Comment
Read Complete Article HERE>»

Embracing ARMs And Battling Members’ Misconceptions

With adjustable-rate mortgages back in fashion, credit unions are educating members about the ins and outs of these products, dispelling misunderstandings along the way. With housing stock low, home prices high, and interest rates showing no signs of coming down, many credit unions are turning to adjustable-rate mortgages to help would-be borrowers find a home. ARM loans gained a bad reputation after the 2008 housing crisis and the Great Recession, but credit union leaders insist that with the right education and a clear understanding of how the product works, adjustable-rate mortgages can be an ideal solution for would-be homeowners. The Big Picture53% of those who don’t own a home believe homeownership is out of reach, according to a study from Northwestern Mutual . 58% of millennials feel this way, but roughly half of baby boomers and Gen X share the sentiment. According to Federal Reserve data, the average price of a home topped $510,000 at the end of 2024. That’s 32% higher than f...
Post a Comment
Read Complete Article HERE>»

Jim Nussle To Retire From America’s Credit Unions

  WASHINGTON—America’s Credit Unions President and CEO Jim Nussle plans to retire from the trade association, ACU announced. ACU said Nussle did not specify an exact date for his retirement but rather expressed his desire to provide the ACU board the “full flexibility” to conduct a search for a CEO over the next several months on a timeline of their choosing, and to ensure his ongoing efforts to champion the organization’s advocacy agenda.   Jim Nussle “Serving credit unions is a deep personal privilege. After a long career in advocacy from both sides of the policy making table, leading CUNA and the honor of helping to create and lead America’s Credit Unions, it is soon time for me to pursue new interests in retirement. My announcement today is intended to provide the board the time to conduct a thorough national search to find the next leader for the Association,” Nussle said.  “My full and ongoing focus will be on our intensive credit union advocacy efforts to prot...
Post a Comment
Read Complete Article HERE>»

Havoc.’ ‘Debacle.’ Analysts See Rough Road Ahead for Autos With Tariffs

WASHINGTON–What’s known: should President Trump’s tariffs remain in place, new and used vehicle prices are going to get even higher. The unknown: Will members stop buying cars, move from new to used, or given how many buy cars according to payment, move to less-expensive models? The tariffs also may create challenges for credit unions that serve some autoworkers. All of those questions and more remain much in flux with analysts predicting  auto prices could rise by $5,000 to $10,000 per vehicle and wreak havoc on the market as the result of 25% import tariffs on vehicles and auto parts.   As the CU Daily reports separately, however, Black Book believes automakers will spread out the incremental cost of tariffed vehicles across their entire showroom to retain relative vehicle transaction prices. Still, the company expects tariffs to push the average transaction price on vehicles to more than $50,000. ‘A Debacle’ “The tariffs are a debacle of epic proportions for the a...
Post a Comment
Read Complete Article HERE>»

Zelle Discontinues Standalone App, Shifts Users to Bank and Credit Union Platforms

SCOTTSDALE, Ariz.—The standalone Zelle app is no longer available for sending or receiving money. Users are now encouraged to enroll through a participating bank or credit union’s app to continue using the peer-to-peer payment service, PYMNTS reported. Zelle had announced in an Oct. 31  blog post  that it would make this change, and it completed the move as of Tuesday (April 1), according to a frequently asked questions  page  on its website PYMNTS said/ “More than 2,200 banks and credit unions across the U.S. now offer Zelle through their mobile app or online banking site,” the company said on the FAQ page. “As a result of this growth, in October of 2024, we announced that we are removing the ability for users to send or receive money using the Zelle app starting April 1, 2025.” PYMNTS noted that the page advised users of the Zelle app to visit a “find your bank” page on its website to see if their bank or credit union offers Zelle; to...
Post a Comment
Read Complete Article HERE>»