ALEXANDRIA, Va. – Federally insured credit unions continued positive trends in most metrics during the third quarter of 2013, including loans, membership, and net worth, according to NCUA’s most recent trend data released Monday.
The total number of loans held by credit unions increased by 2.9% in the third quarter, continuing a trend that began in 2011. In total, credit unions held $631.5 billion in loans at the end of the quarter.
The agency reported:
New auto loans grew by 4%, to total $69 billion;
Used auto loans grew by 3.1%, to total $125 billion;
First mortgage loans grew by 3.3%, to total $262.3 billion;
Net member business loan balances grew by 2.5%, to total $44.6 billion; and
Non-federally guaranteed student loans grew by 10.2%, to total $2.5 billion.
Credit union membership also increased by 726,911 during the quarter, bringing the national total to 95.9 million, a new record.
The credit union system's net worth ratio was 10.65% at the end of the third quarter, a 15 basis point increase from the 2nd quarter total. This is the highest net worth ratio reported since late 2008.
Federally insured credit unions’ total assets grew by $558 million in the third quarter to $1.06 trillion.
The complete details of the NCUA’s September 2013 Call Report available online here. A summary for the industry’s third quarter’s performance is available here, and financial trends data for federally insured credit unions are available here.