ALEXANDRIA, Va. (6/3/15)--Total federal credit union investments declined while loans rose in the first quarter of 2015, according to the National Credit Union Administration. On Tuesday, the agency released the numbers, which are based on call report data from Jan. 1 to March 31. CUNA's Monthly Credit Union Estimates will be available this week.
According to the NCUA, auto lending was a major factor in the overall loan growth during the first quarter, while total investments declined by 3.7% from the first quarter of 2014. Membership, assets, deposits and net worth all continued to rise, while net interest margins held steady.
NCUA Chair Debbie Matz said the switch to loans from long-term investments represented decreasing interest-rate risk, which she said is a positive development for the credit union system.
Loan balances are up 10.6% from the first quarter of 2014 in all major categories, including:
The NCUA also found that credit unions have posted 21 consecutive quarters of positive net income. Federally insured credit unions saw $2.2 billion in net income in the first quarter, a 5.7% increase from the first quarter of 2014.