LOANS OUTPACE SAVINGS AT CA CUs
updated 02/23/14 10:25 AM
Growth Positive For NV CUs
Loan growth in California outpaced savings growth in 2013—the first time that’s happened since 2007, according to preliminary fourth-quarter data from the Credit Union National Association. Meanwhile, loan growth in Nevada reached into the positive territory for the first time since 2007, posting a 0.6-percent increase.
Overall, California credit union loan portfolios grew by 2.8 percent in the fourth quarter, resulting in a 6.3 percent increase for the year. In contrast, savings balances increased by 0.32 percent in the fourth quarter, and by 3.7 percent in the year.
The 6.3 percent full-year loan portfolio increase was the largest percentage increase California credit unions have experienced since 2006. Auto lending continued to drive overall loan growth results in 2013, reflected in a 22-percent full-year jump in new vehicle loans and a 13.9-percent increase in used auto loans. Personal unsecured loans grew by 11.8 percent in the year; first mortgages increased 6.9 percent while business loans grew by 5.4 percent and credit cards by 5.1 percent.
Total memberships in the state’s credit unions grew by 1.23 percent in 2013 – the strongest increase since 2007. In contrast, the Census Bureau reports the state population grew by 0.88 percent in 2013.
In Nevada, credit unions saw another noticeable uptick in savings, with a 0.5-percent increase in the fourth quarter of 2013, finishing the year with a 3.2 percent increase. Used auto, unsecured personal loans, and credit cards finished the year 2013 with increases of 13.6 percent, 5.4 percent, and 4.8 percent, respectively.
On the savings side, the state’s credit unions reported regular savings account balances grew by 9.0 percent at year-end 2013, while checking account balances grew by 0.9 percent and money market balances grew by 2.0 percent year over year.
“The jump in auto lending in California showed that the pent-up demand among consumers pulled them into dealer showrooms as well as credit union branches,” said California and Nevada Credit Union League's Vice President and Chief Economist Dwight Johnston. "The improved economic outlook also was demonstrated in the strong 2013 lending results in nearly every key loan category—from personal unsecured loans and first mortgages to business loans and credit card usage. Improvement in the California job market and rising home values resulted in greater confidence on the part of borrowers.”
“Deeper analysis of the lending picture in Nevada points to an increase in demand being largely driven by mid-level consumer purchases, mostly used auto, unsecured personal loans, and credit cards,” Johnston added. “These three categories provided strong enough growth to push the overall loan growth into positive territory in the fourth quarter. After lagging the recovery in the rest of the U.S., Nevada began what appears to be a sustainable rebound in jobs and construction in the second half of 2013.”
SHARED CEO MODEL AND SMALL CUs updated
07/01/15 11:51 AM
CEO Jon Hernandez Shares Insight
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CUES HONORS INSTITUTE GRADS updated
07/01/15 03:11 PM
Four from CA CUs
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LATEST ‘MEMBERS FIRST IN ACTION’ updated
06/30/15 11:02 AM
Q2 2015 Activities from the Leagues
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Congress Out, Meet with CU Leaders updated
06/30/15 10:25 AM
Southern California Credit Union Leaders Meet with Long Beach Representative Alan Lowenthal
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O.C. ECONOMIC FORECAST updated
06/30/15 09:30 AM
Local Conditions Gain Momentum
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NCUA BANS PERIODIC MEM. FEES updated
06/26/15 07:44 AM
FCUs May Not Charge Periodic Fees
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LEAGUES SUPPORT RBC STUDY ACT updated
06/26/15 02:09 PM
Submits Letter to Representatives
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CA CUs GAIN MORT. MARKET SHARE updated
06/23/15 11:11 AM
Noticeable Rise Since 2009
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TILA/RESPA NEW RULE DELAYED updated
06/17/15 03:05 PM
Postponed until Oct. 1, 2015
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BILL ADOPTS CUNA/CU RBC CONCERNS updated
06/17/15 03:01 PM
NCUA Makes Proposal Revisions
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CU LEADERS PUSH DATA SECURITY IN CA updated
06/16/15 11:11 AM
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06/16/15 09:36 AM
Conference: Employees, Millennials, and More
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06/12/15 03:06 PM
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06/11/15 09:40 AM
Leagues’ Set the Record Straight
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DIVERSITY STANDARDS ISSUED FOR FIs updated
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policy statement establishing joint standards for assessing diversity policies and practices of the institutions they regulate." rows="5" cols="100" WRAP="physical">The National Credit Union Administration (NCUA) and federal banking regulators Tuesday issued their final interagency policy statement establishing joint standards for assessing diversity policies and practices of the institutions they regulate.
DATA BILL HEADS TO CALIFORNIA SENATE updated
06/09/15 10:14 AM
Committee to Review AB 83
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06/09/15 10:10 AM
More Than Bank of America
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CUs CAN IDENTIFY RETAILERS IN BREACH updated
06/09/15 08:46 AM
MasterCard Clears Misconception
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CONSUMER COMPLAINT PROCESS IMPROVED updated
06/09/15 06:09 AM
Also, NCUA Town Hall Webinar
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CA CU Leaders Meet Officials updated
06/03/15 04:27 PM
Credit Union Leaders Visit Elected District Officials
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NEVADA BILLS HIGHLIGHT CU SUCCESS updated
06/02/15 11:16 AM
State Legislature Adjourns
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CREDIT UNIONS HIT RECORD DEPOSITS updated
06/02/15 09:30 AM
California Leads the Way
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CUs BOOST LENDING, INVESTMENTS updated
06/02/15 02:57 PM
Loan Delinquencies Fall NCUA Reports
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GRASSROOTS RECAP: FIRST HALF OF 2015 updated
05/26/15 10:56 AM
California CUs Reach Out to Legislators
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