1Q 2013 Trends

As of March 2013, the nation's 6,895 credit unions held over $1 trillion in assets, up 5.4% from the previous March. They held over $607 billion in loans backed with nearly $118 billion in capital. Here are other notable first quarter trends:

• Loans: Credit unions originated nearly $83B in loans in the first three months of 2013, surpassing the record volume in the first three months of 2012 by 14.1%. A key driver of this increase was stronger mortgage originations versus the first quarter of 2012.
• Members: Total membership rose by nearly 2.0M during the past twelve months, an annual rate of 2.1%. Credit unions added over 675,000 member owners in the first three months of 2013.
• Checking: Driven by continued media attention and rising rates of member growth, members opened nearly 2.7M checking accounts during the past 12 months.
• Core Deposits: Share balances increased 5.1% annually, led by continued strong growth in share draft and regular share balances.
• Asset Quality: Delinquency declined significantly during the first quarter, falling 14 basis points from the end of 2012 to 1.02%.
• The Bottom Line: Revenue was down slightly but improved asset quality resulted in a lower expense for loan losses, driving a 3.3% increase in net income prior to stabilization. Post–stabilization net income is up 5.2% annually due to lower assessment reserves than a year ago.

For more on the industry's performance, use these resources:

The Quarterly Report

Credit unions originated $83 billion in loans during the first three months of 2013. This marks the sixth consecutive quarter of origination records for the industry. Read more about loans, shares, investments, ROA, productivity, and more.

The Consolidated 2-Year Credit Union Financial Statement

Credit unions originated $83 billion in loans during the first three months of 2013. This marks the sixth consecutive quarter of origination records for the industry. Read more about loans, shares, investments, ROA, productivity, and more.

How is the credit union industry faring compared to this period last year? Find out from this industry snapshot.

1Q 2013 Trendwatch

Callahan’s quarterly Trendwatch call took place on Tuesday, May 21 and Wednesday, May 22. On the call, Callahan’s Jay Johnson and Jon Jeffreys discuss credit unions’ disruptive change for member value. In addition to reviewing industry trends, credit unions with unique ways of providing value to members will be profiled and Scott Gilbert discusses Goldman Sachs’ Economic Forecast for the year.

To view the replay, please click the link below:

1Q13 Trendwatch