ALEXANDRIA, Va. (June 17, 2024) – For federally insured credit unions, assets and shares and deposits declined at the median over the year ending in the first quarter of 2024. At the same time, loans outstanding increased and delinquencies grew at the median, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration.
While aggregate assets and shares and deposits in federally insured credit unions continued to grow during the year ending in the first quarter of 2024, at the median, assets declined by 0.8 percent and shares and deposits declined by 2.1 percent.
Loans outstanding rose by 4.0 percent at the median over the year ending in the first quarter of 2024. During the previous year, loans grew by 13.3 percent at the median. The median total delinquency rate was 53 basis points at the end of the first quarter of 2024, compared with 38 basis points at the end of the first quarter of 2023.
Overall, 81 percent of federally insured credit unions had positive net income in the first quarter of 2024, compared with 86 percent in the first quarter of 2023. The median annualized return on average assets at federally insured credit unions was 55 basis points in the first quarter of 2024, compared with 62 basis points in the first quarter of 2023.
The NCUA’s Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia and includes information on two important state-level economic indicators: unemployment rate and home prices.
The NCUA is an independent federal agency created by Congress to regulate, charter, and supervise federal credit unions. With backing from the full faith and credit of the United States, it operates and manages the National Credit Union Share Insurance Fund, insuring deposits for more than 135 million account holders in all federal credit unions and most state-chartered credit unions. The NCUA also protects consumers and educates them on consumer protection and financial literacy issues.
Media Inquiries:
Joe Adamoli
JAdamoli@ncua.gov
703.518.6572
