Northwest Credit Unions Excel in NCUA Q1 Economic Report

The National Credit Union Administration (NCUA) recently released its Quarterly U.S. Map Review for Q1 2017, and the news for Northwest credit unions is bright. This state-by-state economic trend report revealed that Idaho, Oregon, and Washington credit unions surpassed the national average in key indicators of financial health and viability including growth in assets, shares and deposits, membership, loans, and net income.

See below for a brief overview of Northwest credit unions’ outstanding performance during Q1 2017.

Median Annual Asset Growth

The median asset growth rate nationally was 3.9 percent. Oregon credit unions ranked number one in the country with 9.3 percent growth. Washington and Idaho credit unions also outperformed the national average, with Washington at 7.2 percent, and Idaho at 6.5 percent growth.

Median Annual Deposit Growth

The national average in this category was 4.2 percent. Oregon credit unions placed first in the nation with 9.5 percent growth. Washington credit unions posted a gain of 7.8 percent, and Idaho credit unions saw 6.3 percent growth.

Median Annual Membership Growth

Nationally, 51 percent of federally insured credit unions had fewer members at the end of first quarter of 2017 than a year earlier. However, Idaho, Oregon, or Washington credit unions defied this national trend. Washington saw 2.4 percent growth, the second highest in the nation. Oregon saw an increase of 1.9 percent, while Idaho saw a membership increase of 0.9 percent.

Median Annual Loan Growth

Nationally, median growth rate in loans came in at 4.4 percent. Oregon credit unions achieved the highest percentage growth in the nation at 10.9 percent. Washington ranked number two in the nation with 9.4 percent growth, while Idaho credit unions grew loans 6.6 percent.

Median Total Delinquency Rate

The median total delinquency rate among federally insured credit unions was 63 basis points (bps) at the end of Q1. Oregon credit unions saw the nation’s third lowest delinquency rates at 34 bps. Washington credit unions’ delinquency rate was 35 bps, and Idaho credit unions’ delinquency rate was 63 bps.

Median Loans-to-Shares Ratio

Nationally, the median ratio of total loans outstanding to total shares and deposits in Q1 was 62 percent. Ranking third in the country, Idaho credit unions saw an 85 percent loans-to-shares ratio. Washington credit unions’ loans-to-shares ratio was 75 percent, while Oregon credit unions’ ratio was 69 percent.

Median Return on Average Assets

Northwest credit unions far exceeded the national average of 33 basis points. Oregon’s ROAA was second highest in the nation at 59 bps, Washington’s average was 49 bps, and Idaho credit unions’ ROAA was 47 bps.

Share of Credit Unions with Positive Net Income

NCUA reports 77 percent of federally insured credit unions had positive net income in Q1. Oregon credit unions ranked second in the nation at 97 percent, Washington credit unions had 83 percent, and Idaho credit unions had 82 percent.

The full report is available here. In the coming weeks, stay tuned for a series of articles highlighting the performance of Idaho, Oregon, and Washington credit unions in these categories.

Posted in NCUA.