A preview of fourth quarter trends is showing growth numbers in several categories
including loans outstanding and total assets, according to the 321 credit unions
that have already submitted their 5300 call reports to the First Look program.
The credit unions already participating make up 21.5 % of industry assets, $140.8
billion, and include 12 credit unions over $1 billion in assets.
First Look credit unions typically
outperform the industry and report higher growth numbers as a result, but allow
a sneak peak at industry trends. How has the credit union landscape recently
evolved? Balance sheet trends continue for the most part from 2003. Loan growth
for the fourth quarter continues to be strong at 3.09%, even though it slowed
down from 3.36% for the featured credit unions as of the third quarter. Similarly,
the First Look credit unions’ shares rose 1.73% between Sept. and Dec. 2004.
While shares continue to grow at a strong rate, there are signs of slowing share
growth as shares increased 0.53% for the featured credit unions during the
fourth quarter of 2003.
The quarterly ROA for these First Look credit unions has remained virtually unchanged at 1.15%.
Net income has followed a similar pattern to the balance sheet trends. While
it rose 0.48% in 2004 for the First Look credit unions, it signifies a measured
growth rate as the First Look credit unions saw their net income grow by 0.77
% in 2003.
These credit unions are posting strong results, but the growth numbers are
not as substantial as in 2003. If you would like to compare your credit union
to other First Look participating credit unions before NCUA releases fourth
quarter data, please e-mail your 5300 Call Report as a text file to
firstname.lastname@example.org. Over 800 credit unions participated in the First Look
program last quarter and we are receiving more call reports everyday. To learn
more about the First Look program, click