U.S. credit unions outpaced banks across all consumer lending and asset quality categories, according to research conducted by Callahan & Associates on second quarter data released by the National Credit Union Association (NCUA) and Federal Deposit Insurance Corporation (FDIC).
Credit unions increased their loan portfolio 10.6 percent as of June 30, 2015, compared to 5.4 percent for banks. By loan type, credit unions posted 8.2 percent growth in real estate, 15.4 percent growth in auto, and 6.8 percent growth in credit cards. Banks posted 4.4 percent, 7.2 percent, and 2.2 percent growth, respectively.
Auto loans accounted for 32.9 percent of the loan portfolio at credit unions and 4.7 percent of the portfolio at banks, as of June 30, 2015. Other loans comprised nearly 40 percent of the banks’ loan portfolio, slightly more than a half of which were commercial and industrial loans.
In addition to posting strong loan growth, credit unions are improving asset quality. Credit unions reported a delinquency ratio of 0.74 percent as of June 30, 2015, compared to 1.68 percent at banks.
Callahan & Associates pulls both NCUA and FDIC call report data from its Peer-to-Peer program.
Callahan & Associates is dedicated to helping the credit union industry thrive. Our team of experts provides leading research, analytics, networking and consulting solutions. More than 4,000 credit unions and industry suppliers rely on us for the latest data, actionable insights, and benchmarking tools to develop their unique competitive advantages and achieve their strategic goals. Our 30-year history has enabled us to build an unparalleled knowledge transfer consortium which connects the industry’s best minds.
For data, background and forecasts on U.S. Credit Unions: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).