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Total loans outstanding in federally insured credit unions increased $136 billion, or 11.7%, over the year ending in the first quarter of 2022, to $1.30 trillion, according to the latest financial performance data released by NCUA. Total assets rose by $169 billion, or 8.7%, to $2.12 trillion, over the same time period.
Insured shares and deposits rose $125 billion, or 8.0%, to $1.69 trillion, from one year earlier.
“Overall, federally insured credit unions continued to perform well in the first quarter of 2022,” said NCUA Chairman Todd Harper. “Lending remained strong, and we continued to see low delinquency and charge-off rates. That said, ongoing supply chain disruptions, rising interest rates, inflationary pressures, and geopolitical turmoil will likely combine to lower earnings, loan growth, and credit quality in the months ahead. Credit unions, therefore, must remain nimble to navigate through this challenging economic environment.”
NCUA’s Quarterly Credit Union Data Summary provides an overview of the financial performance of federally insured credit unions based on information reported to the agency in the first quarter of 2022. There were 4,903 federally insured credit unions with 131.0 million members as of March 31.
Highlights from the NCUA’s Quarterly Data Summary Report for the first quarter of 2022 include:
Additionally, the NCUA made several changes to the Credit Union Data Summary to reflect the agency’s recent redesign of the Call Report. A table summarizing these changes is available in the Notes to Users.
The NCUA makes credit union system performance data available in the Credit Union Analysis section of NCUA.gov. The analysis section includes quarterly data summaries as well as detailed financial information, a graphics package illustrating financial trends in federally insured credit unions, and a spreadsheet listing all federally insured credit unions as of March 31.