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industry overview

credit unions @ MARCH 31, 2014

Industry Performance By The Numbers (1Q 2014)
A breakdown of the industry’s financial performance and impact in 1Q 2014.

1Q 2014 Trends

As of March 2014 the nation's 6,623 credit unions held $1.11 trillion in assets, up 4.0% from the previous March. They held over $660 billion in loans backed with nearly $123 billion in capital. Here are other notable first quarter trends:

  • Loans: Credit unions originated $351B in loans during 2013, surpassing the record volume in 2012 by 6.2%. Key drivers of this increase were strong mortgage originations and higher consumer loan originations versus 2012.
  • Members: Total membership rose by nearly 2.4 million during the past twelve months, an annual rate of 2.5%.
  • Checking: Members opened nearly 2.4M checking accounts during the past 12 months, indicating continued growth in primary financial relationships.
  • Core Deposits: Share balances increased 3.7% annually, led by continued strong growth in checking account and regular share balances.
  • Asset Quality: Delinquency improved significantly from 2012 as it declined 15 basis points to 1.01% as of the end of 2012.
  • The Bottom Line: Revenue declined from 2012 due to lower interest income, playing a part in a 4.4% decrease in net income after stabilization expenses.

The Consolidated 2-Year Credit Union Financial Statement

Quarterly Report

1Q14 Trendwatch

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