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industry overview

credit unions @ JUNE 30, 2013

2Q 2013 Trends

As of June 2013, the nation's 6,818 credit unions held over $1 trillion in assets, up 4.8% from the previous June. They held over $621 billion in loans backed with over $117 billion in capital. Here are other notable second quarter trends:

  • Loans: Credit unions originated over $180B in loans in the first half of 2013, surpassing the record volume in the first half of 2012 by 14.7%. Key drivers of this increase were stronger mortgage and consumer loan originations versus the first half of 2012.
  • Members: Total membership rose by nearly 2.0M during the past twelve months, an annual rate of 2.1%. Credit unions added close to 1.3 million member owners in the first six months of 2013.
  • Checking: Driven by continued media attention and strong rates of member growth, members opened nearly 2.6M checking accounts during the past 12 months.
  • Core Deposits: Share balances increased 4.7% annually, led by continued strong growth in checking account and regular share balances.
  • Asset Quality: Delinquency ticked up slightly during the second quarter, but is down 17 basis points from June 2012 to 1.04%.
  • The Bottom Line: Revenue continued to decline slightly but improved asset quality from last June 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 4.8% annually due to lower assessment reserves than the previous June.

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

2Q 2013 Reports

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

The Quarterly Report

Credit unions originated a record $176 billion in loans during the first half of 2013, and are on pace for a record year of loan originations. Read more about loans, shares, investments, ROA, productivity, and more.

The Consolidated 2-Year Credit Union Financial Statement

2Q 2013 Trendwatch

Callahan’s quarterly Trendwatch call took place on Thursday, August 22 and Friday, August 23. On the call, Callahan’s Jay Johnson and Scott Patterson discuss how credit unions are shifting into a higher gear across 2013. In addition to reviewing industry trends, James Nastars and Brian Davidson from Meritrust Credit Union ($890M, Wichita, KS) dive into how they have achieved success in their local market and John Olivo discusses Goldman Sachs’ Economic Forecast for the year.

To view the replay, please click the link below:

2Q13 Trendwatch

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