WICHITA, Kan. (4/29/14)--Kansas credit unions continue to gain post-recession momentum with a strong end to 2013, as loan growth surpassed share growth in the fourth quarter and consumer loans drove loan portfolios, according to report released by the Kansas Credit Union Association .
|(Kansas Credit Union Association graphic)|
Loan growth overall increased 9% last year, exceeding the national average of 7.9% (Vision April 25).
Auto loans and first mortgages both experienced the strongest growth last year, climbing 11% and 9.2% respectively. Credit card loans also posted a strong year, jumping 8.4% year-over-year.
Membership expanded 2.2%, or by about 14,000 members, up to 642,343 statewide. Kansas credit unions added 1 1/2 times more members in 2013 than in 2012.
Loan originations rose 3.6% for the year, topping $2 billion at Kansas credit unions, while delinquency rates--at 0.93%--came in lower than all other lending institutions in the state, including banks.
The average member relationship, or the combined outstanding loan and share balances per member, excluding business loans, ticked up 4.3% by the end of 2013 as well.