Northwest Credit Unions see Strong Financial Gains in Third Quarter

NCUA data shows high membership growth for the region.

12/18/2018

Northwest credit unions saw strong gains throughout the third quarter across numerous categories, according to new data released by the National Credit Union Association.

High membership growth, low delinquency rates, and strong overall performances reflect operational safety and soundness, and the financial strength that drives brighter financial futures for their members and communities.

“The majority of assets in Northwest credit unions are held in state-chartered credit unions,” said NWCUA Vice President Regulatory Advocacy, John Trull. “The flexibility of the state charters in Idaho, Oregon, and Washington have allowed credit unions to grow and thrive in these markets. In fact, Idaho state-chartered credit unions comprise the largest industry overseen by the Idaho Department of Finance.”

The following is a breakdown by category for Idaho, Oregon, and Washington credit unions:

Median Annual Asset Growth

  • Idaho, 4.8 percent, fourth highest in the nation
  • Oregon, 2.9 percent
  • Washington, 4.3 percent

Nationally, median asset growth over the year ending in the third quarter of 2018 was 1.7 percent, according to NCUA.

Median Annual  Deposit Growth

  • Idaho, 6.3 percent, second highest in the nation
  • Oregon, 2.1 percent
  • Washington, 3.4 percent

NCUA reports the national median growth in shares and deposits over the year ending in the third quarter of 2018 was 1.3 percent.

Median Annual Membership Growth

  • Idaho, 1.8 percent
  • Oregon, 3.0 percent, second highest in the nation
  • Washington, 1.9 percent

In addition, Alaska’s credit unions saw strong membership growth at 3.8 percent – highest nationwide.

Median Annual Loan Growth

  • Idaho, 8.6 percent, fifth highest in the nation
  • Oregon, 8.1 percent
  • Washington, 9.4 percent, second highest in the nation

Nationally, the median growth rate in loans outstanding was 5.9 percent over the year ending in the third quarter of 2018, and median loan growth was positive in every state.

Median Total Delinquency Rate

  • Idaho, 63 bps
  • Oregon, 30 bps, best in the nation
  • Washington, 37 bps

Median Loan to Share Ratio

  • Idaho, 92 percent, highest in the nation
  • Oregon, 77 percent
  • Washington, 79 percent

Nationally, the median ratio of total loans outstanding to total shares and deposits (the loans-to-shares ratio) was 69 percent at the end of the third quarter of 2018.

Median Return on Average Assets

  • Idaho, 76 bps
  • Oregon, 93 bps, second highest in the nation
  • Washington, 83 bps

Positive Net Income

  • Idaho, 88 percent
  • Oregon, 98 percent
  • Washington, 93 percent

Editor’s Note: Read the full report from NCUA here. In the coming weeks, watch for more stories on Northwest credit unions’ strong third quarter performance.