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NCUA Quarterly U.S. Map Review - Second Quarter 2023

The NCUA Quarterly U.S. Map Review for the second quarter of 2023 covers several key indicators of the financial health and viability of federally insured credit unions, including:1,2

  • Median four-quarter growth in assets,
  • Median four-quarter growth in shares and deposits,
  • Median four-quarter growth in members,
  • Median four-quarter growth in loans,
  • Median delinquent loans as a share of total loans,
  • Median loans outstanding as a share of total shares and deposits,
  • Median year-to-date annualized return on average assets, and
  • Share of federally insured credit unions with positive year-to-date net income.

Four-quarter growth is the growth from the end of the second quarter of 2022 through the second quarter of 2023. Most maps shown in this review display medians, or the 50th percentile of the distribution of the variable. In other words, for a given metric, half of all credit unions had a value at or above the median, while the other half had a value that was less than or equal to the median3

Data presented in this review are rounded. Unless otherwise noted, indicators in percentages are rounded to the nearest tenth of a percentage point, while indicators in basis points are rounded to the nearest basis point. In the legends, the data range in each color band excludes the value of the lower bound but includes the value of the upper bound of the range. Credit unions are included in their states of chartering or the states in which their headquarters are located.

NCUA makes information about the financial performance of federally insured credit unions available through its online Research a Credit Union tool. Through this link, you can locate information contained in an individual credit union’s Call Report as well as obtain a Financial Performance Report and summary documents about a credit union’s performance. For comments or suggestions about the NCUA Quarterly U.S. Map Review, please send an email to ocemail@ncua.gov.

Highlights

  • While aggregate assets in federally insured credit unions continued to grow during the year ending in the second quarter of 2023, at the median, assets declined 1.0 percent. In other words, half of all federally insured credit unions had asset growth at or above negative 1.0 percent and half had asset growth of negative 1.0 percent or less. In the year ending in the second quarter of 2022, the median growth rate in assets was 4.2 percent.
  • Over the year ending in the second quarter of 2023, median asset growth was highest in Alaska (5.9 percent) and Idaho (5.8 percent).
  • At the median, assets remained roughly unchanged in Montana and declined in thirty-five states and Washington, D.C. over the year ending in the second quarter of 2023. New Jersey (-4.1 percent) and Mississippi (-3.1 percent) experienced the largest declines in median assets during that time.

Highlights

  • Nationally, shares and deposits continued to increase in the aggregate during the year ending in the second quarter of 2023, while the median growth in shares and deposits was negative 2.4 percent. In the year ending in the second quarter of 2022, the median growth rate in shares and deposits was 4.8 percent.
  • Over the year ending in the second quarter of 2023, median growth in shares and deposits was positive in five states, led by Alaska (3.9 percent) and New Mexico (1.4 percent).
  • At the median, shares and deposits declined the most in Delaware (-5.0 percent) and New Jersey (-4.9 percent).

Highlights

  • Nationally, membership increased by 0.2 percent at the median in the year ending in the second quarter of 2023. Membership declined by 0.4 percent at the median in the year ending in the second quarter of 2022. Overall, about 53 percent of federally insured credit unions had more members at the end of the second quarter of 2023 than a year earlier. Credit unions with falling membership tend to be small; over 60 percent had less than $50 million in assets in the second quarter of 2023.
  • Over the year ending in the second quarter of 2023, credit unions headquartered in Alaska (4.7 percent) and Wyoming (3.5 percent) experienced the strongest median membership growth.
  • At the median, membership declined in Washington, D.C. and seventeen states over the year. New Jersey (-1.2 percent) and Pennsylvania (-0.9 percent) saw the largest median declines in membership during that time. Membership was virtually unchanged in five states at the median.

Highlights

  • Nationally, loans outstanding rose by 11.0 percent at the median over the year ending in the second quarter of 2023. During the previous year, loans grew by 7.2 percent at the median.
  • Over the year ending in the second quarter of 2023, median loan growth was strongest in Arkansas (16.2 percent) and Nevada (15.0 percent).
  • At the median, loans outstanding grew the least in Washington, D.C. (6.0 percent) and Utah (7.5 percent) during that time.

Highlights

  • At the end of the second quarter of 2023, the median total delinquency rate among federally insured credit unions was 45 basis points, compared with 38 basis points in the second quarter of 2022.
  • At the end of the second quarter of 2023, the median delinquency rate was highest in New Jersey (109 basis points), followed by Alaska and Delaware (both 81 basis points).
  • The median delinquency rate was lowest in New Hampshire (15 basis points) and Utah (22 basis points) at that time.

Highlights

Loan-to-share ratios are rounded to the nearest percentage point.

  • Nationally, the median ratio of total loans outstanding to total shares and deposits (the loan-to-share ratio) was 68 percent at the end of the second quarter of 2023. At the end of the second quarter of 2022, the median loan-to-share ratio was 58 percent.
  • The median loan-to-share ratio was highest in Idaho (92 percent) and Wyoming (88 percent) at the end of the second quarter of 2023.
  • The median loan-to-share ratio was lowest in Delaware (45 percent) and New Jersey (48 percent) at that time.

Highlights

  • Nationally, the median annualized return on average assets at federally insured credit unions was 66 basis points in the first half of 2023, compared with 43 basis points in the first half of 2022.
  • Georgia (95 basis points) and Vermont (94 basis points) had the highest median annualized return on average assets in the first half of 2023.
  • Washington, D.C. (28 basis points) and New Jersey (39 basis points) had the lowest median annualized return on average assets during that time.

Highlights

Shares of federally insured credit unions with positive net income are rounded to the nearest percentage point.

  • Nationally, 87 percent of federally insured credit unions had positive year-to-date net income at the end of the second quarter of 2023, compared with 79 percent at the end of the second quarter of 2022.
  • At least 65 percent of federally insured credit unions in every state and Washington, D.C. had positive year-to-date net income at the end of the second quarter of 2023.
  • The share of federally insured credit unions with positive year-to-date net income at the end of the second quarter of 2023 was highest in Maine, Nevada, and New Hampshire (all 100 percent), followed by South Dakota (97 percent).
  • The share was lowest in Alaska (67 percent) and Washington, D.C. (71 percent) at that time.

Tables and Downloads

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Footnotes


1 Data are as of the 2023Q2 public release date. The definition of the “state” variable was modified with the 2022Q1 release.

2 Overseas territories—Guam, Puerto Rico, and the Virgin Islands— are included in the calculations of the U.S. statistics and the maps and reported in the summary indicators tables at the end of this report. Due to the small number of credit unions in each, however, they are not represented in the text.

3 Technically, by construction of the median, there can be several credit unions “tied” at the median value.

Last modified on
09/14/23