Iowa credit unions see asset, deposit growth

Iowa's credit unions posted solid year-over-year financial results in the fourth quarter of 2015.

Assets of Iowa credit unions grew 4.8 percent when compared with the final quarter of 2014 and loans increased 5.8 percent, according to the National Credit Union Administration (NCUA). Deposits expanded by 5 percent, but membership increased by a scant 0.1 percent.

The median loan delinquency rate for Iowa credit unions was 0.8 percent.

Iowa credit unions were ranked 15th in the nation for asset and deposit growth, 17th for loan growth and 24th for overall loan delinquency rate.

Median growth rates for loans, assets, and share and deposits at federally insured credit unions were positive in all states in 2015, according to NCUA.

Median loan growth in federally insured credit unions was 4 percent during the year that ended on Dec. 31, 2015. Median asset growth was 3.3 percent, while median growth in shares and deposits was 3.6 percent.

The highest median growth rates for loans were in Washington (9 percent) and Alaska (8 percent). Median loan growth was slowest in Arkansas (0.1 percent) and Pennsylvania (0.7 percent).

The median total delinquency rate at federally-insured credit unions was 0.8 percent nationally in the fourth quarter of 2015, down from 0.9 percent a year earlier. At the end of the fourth quarter, the median delinquency rate was lowest in North and South Dakota (0.4 percent).

New Jersey (1.6 percent) reported the highest median delinquency rate, followed by Delaware and the District of Columbia (1.5 percent).

Fifty-two percent of federally-insured credit unions had fewer members than a year earlier. Membership is generally falling at smaller credit unions. About 75 percent of the credit unions that lost membership had less than $50 million in assets.

Alaska at 3.9 percent had the highest median membership growth rate, followed by Idaho and Maine at 1.9 percent.

NCUA is an independent federal agency created by Congress to regulate, charter and supervise federal credit unions.