WICHITA, Kan. (7/8/14)--Kansas credit unions posted solid first quarter results, including loan growth of 9% that exceeds the national average of 8.8%.
Auto loans and credit cards ticked upward at 11.4% and 10.1%, respectively, followed by a strong showing of first mortgages with 7.8% annual growth, according to the Kansas Credit Union Association (Vision July 1).
Members continue to deepen their relationship with their credit unions with an average relationship--outstanding loan and share balances combined--coming in at $12,937 with a 4.1% annual growth rate.
Kansas credit unions added nearly 16,000 members over the past year--an annual growth rate of 2.5%.
For the first quarter, credit quality remains high. At 0.74%, Kansas credit unions have a lower delinquency rate than local banks as well as banks and credit unions nationwide.