CU deposits pass $1 trillion in 4Q of 2015

March 4, 2016

ALEXANDRIA, Va. (3/4/16)-- Total shares and deposits at federally insured credit unions surpassed $1 trillion in the fourth quarter of 2015, the National Credit Union Administration (NCUA) reported Thursday. The data, based on fourth quarter 2015 call report information, also showed membership in federally insured credit unions hit 102.7 million and that overall share and deposit accounts at federally insured credit unions increased $65.2 billion, or 6.9%, from the end of the fourth quarter ending Dec. 31, 2014.

“Rising deposits indicate consumer confidence in the system, and credit unions are turning those deposits into loans that allow members to buy homes, cars and other goods. New loans also grew by 15.8% in 2015,” said NCUA Chair Debbie Matz. “As lending increased, credit unions’ exposure to long-term investments declined. Nevertheless, NCUA will continue to closely examine credit unions for interest rate risk.”

Other highlights from the data include:

  • Total loans at federally insured credit unions reached $787 billion in the fourth quarter of 2015, an increase of 2.3% from the previous quarter and 10.5% from a year earlier;
  • For the year ending in the fourth quarter of 2015, loans grew in every major category from the same time in 2014, including new auto loans (16%), used auto loans (12.7%) and total first-mortgage loans (10.3%);
  • The percentage of federally insured credit unions that were well-capitalized rose over the past four quarters with 97.9% reporting a net worth ratio at or above the statutorily required 7%. A year earlier, 97.6% of credit unions were well-capitalized.

The NCUA has also made available an expanded summary of the data, complete data from December 2015 call reports and financial trends data for federally insured credit unions.