Credit Union Assets, Lending, and Delinquencies Rise in 2nd Quarter
NCUA Releases Second Quarter Credit Union System Performance Data
ALEXANDRIA, Va. (Sept. 7, 2023) – According to the latest financial performance data released today by the National Credit Union Administration, total assets in federally insured credit unions increased $82 billion, or 3.8 percent, over the year ending in the second quarter of 2023, to $2.22 trillion.
During the same period, total loans outstanding rose $175 billion, or 12.6 percent, to $1.56 trillion. Insured shares and deposits also grew $31 billion, or 1.8 percent, to $1.72 trillion, from one year earlier.
“The latest quarterly data indicate the credit union system is — overall — generally well positioned,” said NCUA Chairman Todd M. Harper. “The increase in credit union membership, assets, loans outstanding, and insured shares and deposits give us reason for cautious optimism; cautious because the second quarter data highlight a few areas of concern. Namely, a rise in delinquency rates and charge-offs and a slight decline in insured shares.”
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