Federally insured credit unions experienced growth in loans, positive net income, and delinquencies in the third quarter of 2023, along with a decline in assets, shares, and deposits, according to the latest National Credit Union Administration (NCUA) Quarterly U.S. Map Review.
Nationally, median asset growth over the year ending in the third quarter of 2023 was negative 1.6, down from 3.4 percent one year ago. Median growth in shares and deposits over the year ending in the third quarter of 2023 was negative 3.5, compared with 3.7 percent a year ago.
Loans outstanding at federally insured credit unions rose 8.5 percent at the median over the year ending in the third quarter of 2023. During the previous year, loans increased by 10.1 percent at the median. At the end of the third quarter of 2023, the median total delinquency rate among federally insured credit unions was 52 basis points, compared with 40 basis points in the third quarter of 2022.
Access the ‘Compliance Hotline’
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:
Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
Additionally, other League-member compliance resources include:
For more information, email Lisa Quaranta.
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