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New NCUA Data Shows WV Loan Growth Up, But Membership Declines — 6/11/14

A new analysis of state-level data by the National Credit Union Administration shows several key performance measures, particularly loan and membership growth, rising at federally insured credit unions in the year ending March 31, 2014.

Nationally, assets and shares grew at a slower pace than in the previous year, while delinquencies declined and return on average assets (ROAA) was slightly lower.

The NCUA Quarterly U.S. Map Review, prepared by NCUA’s Office of the Chief Economist tracks performance indicators for federally insured credit unions in the 50 states and the District of Columbia.


Nationally, total loans outstanding grew 8.8 percent in the year ending in the first quarter of 2014, a significant increase from the 4.9 percent growth rate in the year ending in the first quarter of 2013. Idaho (17.7 percent) and Iowa (14.1 percent) posted the fastest growth. West Virginia’s credit unions came in with a loan growth rate of 6.2% in the first quarter.

Nationally, membership in federally insured credit unions rose 2.6 percent to 97.1 million in the year ending in the first quarter of 2014, a somewhat faster pace than in the previous year. Membership grew in 43 states and declined in 8 states including West Virginia which saw a slight decrease of 0.8%.

Nationally, the annualized return on average assets at federally insured credit unions was 78 basis points at the end of the first quarter of 2014 compared to 83 basis points the previous year. Utah had the highest return on average assets (128 basis points), followed by North Carolina (112 basis points). New Jersey (24 basis points) and Connecticut (26 basis points) posted the lowest return on average assets. West Virginia ranked 36th in annualized ROA.

Total assets at federally insured credit unions grew 4.0 percent nationally in the year ending in the first quarter of 2014 after rising 5.3 percent in the previous year. Federally insured credit unions in Idaho (8.9 percent) and Arizona (8.0 percent) experienced the fastest overall growth in total assets. Assets grew 2.9% in West Virginia slightly lagging behind the national average.

Federally insured credit unions’ shares and deposits grew 3.6 percent nationally in the year ending in the first quarter, down from a 5.1 percent rise in the previous year. Idaho (8.0 percent) posted the largest gain of any state. Shares and deposits fell in Massachusetts, Maryland and New Jersey while West Virginia saw a modest 2.6% increase.

The delinquency rate at federally insured credit unions was 0.8 percent nationally in the first quarter, a decline from 1.0 percent a year earlier. New Jersey and Delaware posted the highest total delinquency rates. New Hampshire and North Dakota had the lowest while West Virginia mirrored the national rate of 0.8% and down from 1.2% in 2013.

At the end of the first quarter, NCUA annual growth statistics in West Virginia revealed that:

  • Loan growth increased by 6.2%, slightly below the national average of 6.8%;
  • Growth in membership declined to 0.8%, compared a national average increase of 2.6%;
  • Asset growth showed a modest 2.9% growth rate and below a national average of 4.3%.
  • Shares and deposit growth in WV rose to 3.0% this year, compared to a national average of 4.0%;
  • The statewide delinquency declined to 0.8 %, was the same as the national average;
  • The annualized average return on assets was reported at 43 basis points and below the national average of 78 bp;

Source: National Credit Union Administration