Idaho and Alaska Credit Unions Posted Highest Median Membership Growth Rates in Q2 2020

Northwest credit unions also shined in their return on average assets, data shows.

9/29/2020

Data released by the Nation Credit Union Administration shows that Northwest credit unions closed out Q2 2020 with strong numbers in several categories.

Nationally, median asset growth over the year ending in the second quarter of 2020 was 10%. Idaho ranked sixth nationwide at 14.5%, and both Oregon and Washington saw 12.9% asset growth.

“The asset growth numbers are understated as they are annualized and include slower asset growth that was happening in the third and fourth quarter of 2019, when credit unions were raising interest rates in an effort to attract deposits,” said John Trull, VP, Regulatory Affairs at the Northwest Credit Union Association. “We expect that average asset growth for the second and third quarters of 2020 to be above 20%, which annualized is 40% asset growth.”

While overall membership in federally insured credit unions continued to grow during the year ending in the second quarter of 2020, at the median, membership nationwide declined 0.3%. However, Northwest membership growth continued to grow. Credit unions headquartered in and Idaho (2.1%) posted the highest median membership growth rates at the end of Q2, while Washington ranked sixth with 1.2%.

Nationally, the median growth rate in loans outstanding was 0.2% over the year ending in Q2 2020. Idaho led the nation in loan growth, with 6.7%, and Washington and Oregon both saw continued loan demand.

At the end of the second quarter of 2020, the median total delinquency rate among federally insured credit unions was 52 basis points (bps). In the Northwest, delinquency remained low. Oregon posted the second lowest rate in the nation with 24 bps; Idaho had 29 bps, and Washington had 27 bps.

Nationally, the median annualized return on average assets at federally insured credit unions was 39 basis points during the first half of 2020. Idaho ranked second highest nationwide with 72 basis points median annualized returns on average assets during the first half of 2020. Oregon ranked third with 70 basis points, and Washington was sixth with 56 basis points.

Here’s how Northwest credit unions closed out Q2 2020:

Median Annual Asset Growth
Idaho: 14.5%
Oregon: 12.9 %
Washington: 12.9%

Median Annual Share and Deposit Growth
Idaho: 15.5%
Oregon: 13.7%
Washington: 14%

Median Annual Membership Growth
Idaho: 2.1%
Oregon: -0.1%
Washington: 1.2%

Median Annual Loan Growth
Idaho: 6.7%
Oregon: 1.9%
Washington: 2.3%

Median Total Delinquency Rate
Idaho: 29 bps
Oregon: 24 bps (ranked third nationwide)
Washington: 27 bps

Median Loan-to-Share Ratio
Idaho: 82% (2nd national)
Oregon: 72%
Washington: 73%

Median Return on Average Assets
Idaho: 72 bps (ranked second nationwide)
Oregon: 70 bps (ranked third nationwide)
Washington: 56 bps

Positive Net Income
Idaho: 92%
Oregon: 96%
Washington: 95%

View data from Q1 2020 here.

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