A Quick Look at Q1 2013: Looking Good for Northwest Credit Unions

A snapshot of Q1 financial data from Northwest credit unions provides a positive picture, according to an analysis by Dan Hein, vice president of finance for the Northwest Credit Union Association (NWCUA).

“I see everything tracking well with asset growth, return on assets and net worth all showing positive growth,” Hein noted. “And further good news is that delinquency ratio and net charge-offs are continually on the decline.”

A more detailed analysis of the first quarter is pending, but Hein also noted Northwest credit unions continued to attract new members, seeing an increase of 3.4% over Q1 in 2012. As of March 31, 2013, 4.4 million consumers belonged to a Northwest credit union.

Washington and Oregon credit unions held assets of over $51.7 billion—an increase of 6.1% over a year ago.

Net worth for Northwest credit unions averaged a healthy 9.70%.

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in NWCUA.