LOANS RISE AT STATE-CHARTERED CUs
updated 12/31/13 03:18 PM
Data Shows Improving Environment
Loans at California state-chartered credit unions increased 4.4 percent in 2013 to $41.8 billion from $40 billion in 2012, according to the California Department of Business Oversight Quarterly Report. Loans were up $1.1 billion in the third quarter (2.8 percent from the previous quarter).
Total assets of California state-chartered credit unions were $79.3 billion as of Sept. 30, up $2.9 billion or 3.7 percent from $76.4 billion a year earlier, and up a fraction of a percent in the second quarter. Shares increased 3.6 percent to $68.2 billion from $65.8 billion one year ago and were up a fraction of a percent from the prior quarter.
Net worth was up 10.3 percent to $8.6 billion from $7.8 billion the previous year and up 2.1 percent from the $8.4 billion reported in the second quarter. The net worth to asset ratio improved to 10.8 percent from 10.17 percent one year ago and from 10.63 percent in the previous quarter. The allowance for loan losses decreased 27.8 percent to $695.7 million from $963 million one year ago and was down 8 percent from $756 million in the second quarter.
Delinquent loans fell $113.6 million or 21.5 percent to $415.6 million from $529.2 million in 2012. They also were down $63.1 million or 13.2 percent from $478.7 million in the second quarter. Delinquent loans as a percentage of total loans were 1 percent as of Sept. 30, compared with 1.32 percent a year earlier and 1.18 percent in the last quarter.
Other real estate owned totaled $57.2 million at the end of the third quarter, a decrease of $59.5 million or 51 percent from $116.7 million a year previous and a drop of $6.1 million or 9.7 percent from $63.4 million reported in the last quarter.
The number of state-chartered credit unions in California at the close of the third quarter stood at 146, compared with 153 at the same time last year.
HELP SAVE A LIFE: SHOP FOR MIRACLES updated
08/20/14 04:36 PM
International Credit Union Day
You don’t have to be a doctor to help ill children. Simply sign up for Shop for Miracles!
NV LOAN GROWTH: PRE-RECESSION LEVELS updated
08/19/14 12:28 PM
California Lending Almost Doubles
Industry-wide loan growth at Nevada credit unions in the second quarter nearly hit levels unseen since the same period in 2005—a phenomenon mirroring a positive trend in California and across the nation.
REMOTE DEPOSIT CAPTURE FUNDAMENTALS updated
08/19/14 10:54 AM
Timing, Regs, and Risk Management
Remote deposit capture in home banking and mobile banking is quickly becoming a must-have feature. Although credit unions have many options for how to provide this service, questions abound regarding availability of funds and risk management.
CATALYST LOAN PROGRAM NEARS 50M updated
08/18/14 04:19 PM
California Credit Union Participation
Since its launch a few months ago, Catalyst Corporate FCU’s loan participation program has helped nearly two dozen credit unions—including California credit unions—sell and buy more than $46 million in loans.