Northwest Credit Unions Close 2018 Fourth Quarter with Positive Growth in all Categories
NCUA findings show strong membership and deposit growth.
3/26/2019
Northwest credit unions saw positive growth across all categories for the fourth quarter of 2018, according to data released by the National Credit Union Administration. With several performance rankings in the top 10, Northwest credit unions outpaced national averages in numerous areas.
Northwest numbers align with the national economy’s strong growth, sustained by high consumer confidence, low unemployment, and a strong job market. However, economic forecasts predict overall credit union performance will revert to a more sustainable rate of growth in the coming months.
“We’ve seen growth in all categories for Northwest credit unions for nearly the past decade,” said Northwest Credit Union Association Vice President Regulatory Advocacy, John Trull, “but we expect growth to come back to a baseline, potentially this year, as interest rates rise and loan demand slows. In addition, deposits are increasing in cost, which could put additional pressure on rates.”
Here’s how Idaho, Oregon, and Washington credit unions closed the year:
Median Annual Asset Growth
Idaho: 7.2 percent, highest in the nation
Oregon: 3.3 percent
Washington: 4.4 percent
Median Annual Share and Deposit Growth
Idaho: 8.5 percent, highest in the nation
Oregon: 2.5 percent
Washington: 3.9 percent
Median Annual Membership Growth
Idaho: 1.6 percent
Oregon: 2.3 percent, fourth highest in the nation
Washington: 2.6 percent, second highest in the nation
Median Annual Loan Growth
Idaho: 7.6 percent
Oregon: 7.9 percent
Washington: 9.2 percent, second highest in the nation
Median Total Delinquency Rate
Idaho: 54 bps
Oregon: 32 bps, third lowest in the nation
Washington: 39 bps
Median Loan to Share Ratio
Idaho: 88 percent, third highest in the nation
Oregon: 80 percent
Washington: 81 percent
Median Return on Average Assets
Idaho: 80 bps
Oregon: 92 bps, second highest in the nation
Washington: 80 bps
Positive Net Income
Idaho: 88 percent
Oregon: 98 percent, fourth highest in the nation
Washington: 93 percent
For more information, see NCUA’s Quarterly U.S. Map Review.
Editor’s note: Watch for more stories on Northwest credit unions’ strong performance in the coming weeks.
