ALEXANDRIA, Va.—Alaska was No. 1 in growth in members, assets, and shares and deposits last year, according to Q4 NCUA state-level data.
Other states atop growth categories:
- Arizona (loan growth)
- Vermont (shares and deposits)
- Iowa (loan-to-share ratio)
- Utah (ROA)
But amidst all the newly released state data were some troubling numbers on credit unions nationally. NCUA noted that while overall membership in federally insured credit unions continued to increase 2014, that growth was concentrated in larger institutions. The median membership growth rate last year was negative 0.3%. Nationally, 53% of credit unions, most of them with assets of less than $50 million, lost membership over the year.
At the state level, meanwhile, Alaska’s 2.6% median membership growth rate, Idaho followed at 2.2%. Median membership growth was negative in 27 states, with Pennsylvania (-1.8%) ranking the lowest.
The median annual asset growth rate at federally insured credit unions was 2.0% through Q4, compared with 1.6% in 2013, NCUA said. The median growth rate was highest in Alaska (6.3%) and Vermont (5.8%). New Jersey (-0.3%) was the only state in which median asset growth over the year was negative.
Nationally, federally insured credit unions’ median growth rate for shares and deposits was 1.8% last year, up slightly from the median growth rate of 1.7% in 2013, the agency reported. Vermont and Alaska (both 6.0%) showed the highest median growth rate for shares and deposits. At the median, shares and deposits fell in New Jersey (-0.5%) and Delaware (-0.2%).
Meanwhile, nationally 2014 ended with the median growth rate for loans outstanding at 3.8%, up from the 2.5% median growth rate at the close of 2013, the agency stated. The highest median growth rates for loans were in Arizona (10.4%) and Idaho (9.7%). At the median, loan growth was zero in Delaware and -0.5% in the District of Columbia. Loan growth was positive in all other states.
The median ratio of loans outstanding to total shares and deposits was 61% at the end of 2014, compared to 59% a year earlier. The median loan-to-share ratio was highest among credit unions in Idaho (86%), followed by Wisconsin and Maine (both 80%). The median loan-to-share ratio was lowest in Hawaii (42%), followed by Delaware (43%).
The aggregate return on average assets among all federally insured credit unions was 80 basis points during 2014, compared to 78 basis points the previous year. The aggregate return on average assets was positive in every state in 2014. Utah (162 basis points) had the highest aggregate return, followed by North Dakota (109 basis points). Connecticut (26 basis points) and New Jersey (34 basis points) posted the lowest aggregate returns on average assets.
The median delinquency rate at federally insured credit unions was 0.9% nationally in the fourth quarter of 2014. A year earlier, the rate was 1.0%. The District of Columbia (1.8%) posted the highest median delinquency rate, followed by New Jersey (1.7%). North Dakota (0.3%) had the lowest median delinquency rate of any state at the end of the quarter.