Total assets, shares and deposits, and membership at federally insured credit unions declined at the median over the year ending in the second quarter of 2024, while loans outstanding increased, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration (NCUA).
Nationally, median asset growth was negative 0.2 percent over the year ending in the second quarter of 2024, compared with 1.0 percent over the year ending in the second quarter of 2023. The median growth in shares and deposits over the year ending in the second quarter of 2024 was negative 1.2 percent, compared with negative 2.4 percent over the previous year. Membership declined by 0.3 percent at the median over the year ending in the second quarter of 2024, compared with a 0.2 percent increase in membership over the previous year.
The median growth rate of loans outstanding was 2.4 percent over the year ending in Q2 2024, compared with 11.0 percent over the same period in 2023. The median total delinquency rate was 60 basis points at the end of Q2 2024, compared with 45 basis points in Q2 2023.
At the end of Q2 2024, 84 percent of federally insured credit unions had positive year-to-date net income, compared with 87 percent at the end of Q2 2023. Nationally, the median annualized return on average assets was 61 basis points in H1 2024, compared with 66 basis points in H1 2023.
The NCUA’s Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions across all states and includes information on two important state-level economic indicators: unemployment rates and home prices.
The NCUA is an independent federal agency created by Congress to regulate, charter and supervise federal credit unions. With backing from full faith and credit of the United States, it operates and manages the National Credit Union Share Insurance Fund, insuring deposits for more than 135 million account holders across federal and most state-chartered credit unions. Additionally, it protects consumers and educates them on consumer protection and financial literacy issues.
For media inquiries:
Joe Adamoli
JAdamoli@ncua.gov
703-518-6572