WICHITA, Kan. (4/21/15)--Both federally and state-chartered credit unions rounded out 2014 with strong fourth quarters, according to data released by the Kansas Credit Union Association (KCUA) this week.
The state's credit unions outperformed national credit union averages in a number of areas, including assets, capital and delinquency rates, during the year.
"Kansas credit unions' loans were the shining star, with every major loan category growing year-over-year," said Tana Hoffman, KCUA assistant vice president of member relations. "Our credit unions are showing the value of their products and services too, with the rise of member product usage."
New-auto loans led the way in 2014, posting an annual jump in growth of 11.4%, while used-auto loans recorded a 7.8% increase. Loan portfolios climbed 7.4% overall, reaching $3.9 billion by the end of 2014.
Kansas' credit unions also posted a net-worth ratio of 11.3%, in addition to a delinquency rate of 71 basis points, which is lower than national averages for credit unions and banks.
Membership, meanwhile, remained strong at Kansas' credit unions, with the state's 92 credit unions serving nearly 640,000 members.
Within that membership base, the average member relationship rose 6% to $13,457 in 2014.