ALEXANDRIA, Va. (3/4/16)-- Total shares and deposits at federally insured credit unions surpassed $1 trillion in the fourth quarter of 2015, the National Credit Union Administration (NCUA) reported Thursday. The data, based on fourth quarter 2015 call report information, also showed membership in federally insured credit unions hit 102.7 million and that overall share and deposit accounts at federally insured credit unions increased $65.2 billion, or 6.9%, from the end of the fourth quarter ending Dec. 31, 2014.
“Rising deposits indicate consumer confidence in the system, and credit unions are turning those deposits into loans that allow members to buy homes, cars and other goods. New loans also grew by 15.8% in 2015,” said NCUA Chair Debbie Matz. “As lending increased, credit unions’ exposure to long-term investments declined. Nevertheless, NCUA will continue to closely examine credit unions for interest rate risk.”
Other highlights from the data include: