News

Insured Shares and Deposits Top $1 Trillion in Third Quarter — 12/6/16

Insured shares and deposits in federally insured credit unions grew, for the first time, to more than $1 trillion and membership reached 106.2 million in the third quarter of 2016. The figures were released by the National Credit Union Administration which regulates and insures federally insured credit unions in West Virginia, and throughout the U.S.

“By almost any measure, America’s credit unions as a whole continue to grow,” NCUA Board Chairman Rick Metsger said. “Rising credit union membership has boosted deposits, and loans have continued to grow at a double-digit pace. At the same time, the overall delinquency rate has held steady, and the shift away from long-term investments has continued. Despite these positive trends, federally insured credit unions must guard against risks on the horizon like rising interest rates and regional economic downturns, particularly in energy-producing states.”

NCUA released the new figures based on Call Report data submitted to and compiled by the agency for the quarter ending Sept. 30, 2016.

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