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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.

                           
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LEADERS ENGAGE WITH STATE LAWMAKERS updated 04/15/14 09:44 AM
Card Security a Hot Topic
Credit union professionals and volunteers took a stand for their members in Sacramento from April 7-8 during the California Credit Union League’s 2014 Government Relations Rally (GRR)—an event that attracted more than 75 attendees and helped build relationships with state legislators.

CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated 04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.

DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated 04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.

CONGRESSMEN CONCERNED OVER RBC RULES updated 04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.