Assets and loans at federally insured credit unions showed an increase at the median over the year ending in the third quarter of 2024, while shares and deposits experienced a decline, as reported by the latest NCUA Quarterly U.S. Map Review.
Nationally, there was a median asset growth of 0.3 percent over this period, contrasting with a 1.6 percent decline during the same timeframe one year earlier. The median growth in shares and deposits was negative 0.4 percent for the year ending in the third quarter of 2024, compared to negative 3.5 percent a year ago. Loans outstanding rose by 0.9 percent at the median over this period, whereas they had increased by 8.5 percent at the median during the previous year.
At the end of Q3 2024, federally insured credit unions had a median total delinquency rate of 65 basis points, up from 53 basis points at the end of Q3 2023.
The report also noted that nationally, 85 percent of federally insured credit unions recorded positive year-to-date net income in Q3 2024, slightly down from 87 percent during the first three quarters of 2023. The annualized median return on average assets was reported as being at 64 basis points for Q1-Q3 of 2024, compared to 67 basis points for the same period in 2023.
The NCUA’s Quarterly U.S. Map Review provides performance indicators for federally insured credit unions across all states and Washington D.C., including data on unemployment rates and home prices.
The National Credit Union Administration (NCUA) is an independent federal agency established by Congress to regulate and supervise federal credit unions. It operates with full backing from the United States government through managing the National Credit Union Share Insurance Fund which insures deposits for more than 135 million account holders in federal and most state-chartered credit unions. The NCUA also plays a role in consumer protection and financial literacy education.
For media inquiries: Joe Adamoli can be contacted via email at JAdamoli@ncua.gov or phone at 703-518-6572.