NCUA Data Shows Idaho, Oregon, and Washington in Top Three in Nation for Overall Loan Growth

6/19/18

State-level data recently released by the NCUA showed outstanding first-quarter overall loan growth in Oregon, Washington, and Idaho, as well as other positive results in asset, deposit, and membership growth, return on average assets, and net income.

The data measures financial performance for the 12 months ending March 31, 2018.

Loan growth in the Northwest far outpaced the national average of 5 percent. Oregon credit unions were tops in the nation in this category, showing 11 percent loan growth. Washington credit unions’ average was 10.3 percent, and Idaho credit unions saw 9.1 percent average loan growth.

In the category of deposit growth, Idaho credit unions’ 5.8 percent increase ranked third in the nation. Washington credit unions grew deposits 5.2 percent, the fifth strongest performance nationally, and Oregon credit unions grew deposits 3.9 percent, tenth in the nation.

“The strong deposit growth is a leading indicator of how well credit union members in the Northwest are doing financially,” said John Trull, NWCUA’s AVP, Regulatory Advocacy. “However, the high loan demand compared to deposit growth is a challenge that credit unions continue to address, so they can meet their members’ needs for loans on Main Street.”

Median asset growth was 2.2 percent nationally, the median rate of growth in shares and deposits was 2.1 percent, and the median loans-to-shares ratio was 64 percent.

Other Northwest credit union highlights from the report include:

  • Asset growth: At 6.9 percent, Idaho credit unions ranked third in asset growth percentage nationwide. Washington achieved fifth spot with 5 percent.
  • Membership: Oregon, Washington, and Idaho all continued to see strong overall membership growth. At 2.2 percent, Oregon was fourth in the nation, Washington was fifth with 2 percent growth, and Idaho saw 1.7 percent growth—the seventh highest performance in the nation.
  • Return on average assets (ROAA): Washington, Oregon, and Idaho all ranked in the top 10 in return on average assets, with Oregon and Washington credit unions in the top five.
  • Net income: In Oregon, 97 percent of credit unions had positive net income for the year – a continuing trend. In Idaho, 96 percent of credit unions had positive net income and Washington saw 93 percent profitability.

For a deeper dive into the NCUA first quarter data, please see the U.S. Map Review.

Editor’s Note: We will be releasing more in-depth, state-specific stories about the newly released NCUA data in upcoming editions of Anthem.

Posted in NCUA.