According to quarterly data released by the National Credit Union Administrations (NCUA) for the fourth quarter of 2013 and analyzed by Callahan & Associates, Nebraska credit unions saw strong annual growth in loans, shares, members, and net worth. In 2013, nearly all loan types increased over the past year, with mortgages growing at the fastest pace at 10.3%.
Nebraska Credit Union 4Q 2013 Results:
• Total loans outstanding in Nebraska credit unions topped $2.46 billion in 2013, up 6.2% from 2012.
• Auto loans, which comprise 47% of the Nebraska credit union loan portfolio, rose by 6.3% in 2013.
• Nebraska credit unions reported an improvement in asset quality over the past year. Delinquency fell three basis points annually to 92 basis points at the end of 2013.
• Total membership at Nebraska credit unions increased 2.6% over the past 12 months to reach 456,329 at year-end. They added 11,541 members during 2013, nearly 40% higher than the number of new members reported a year prior.
• In Nebraska, deposits increased 2.3% annually to reach $3.19 billion in 2013.
• At year-end, total net worth was up 4.8% to $401.3 million. As reserves increased at a faster pace to assets, the net-worth-to-assets ratio increased 18 basis points to 10.7% in 2013.
For more information about the Nebraska Credit Union League, please call (402) 333-9331 or (800) 950-4455.