Together, core deposits comprised 74.0% of the deposit portfolio, an increase of 20 basis points year-over-year. Year-over-year, core deposit balances grew 5.9%.
Credit unions in the NCUA Western Region reported the highest share growth, at 7.1%. The Mid-Atlantic Region dominated in share accounts per member, reporting 2.14 in the first quarter of 2018. The Western Region came next at 1.91 share accounts per member.
Although nationwide, IRA & Keough balances decreased, credit unions in the Southeast Region recorded the highest average balance, $19,029 per account. This is $2,200 more than the Central Region, which came in at No. 2.
Share draft penetration rose 82 basis points year-over-year and was 57.31% as of March 31. Credit Unions $100 million to $200 million in assets reported the highest share draft penetration, 61.52%.
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The NCUA Southeast Region reported the largest average IRA/Keough balance — $19,029.
The proportion of the deposit portfolio comprised of share drafts has consistently increased and was 15.6% at the end of the first quarter. By comparison, this segment of the deposit portfolio was 13.8% in first quarter 2014.
The deposit portfolio has increased $261.8 million, or 27.4%, in the past five years.
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