It’s reporting season, and Callahan’s FirstLook provides an early look at credit union data. Looking for crucial insight about quarterly performance results weeks before the official data release from the NCUA? Callahan & Associates has you covered. Catch up on the latest trends below or dive deeper into the trends that matter to you with Peer Suite, Callahan’s online performance benchmarking tool. Schedule your demo today.
FIRSTLOOK REPRESENTATION
FOR U.S. CREDIT UNIONS
SOURCE: Callahan & Associates
The latest batch of performance data brings the FirstLook data set to 97% of the industry for the fourth quarter. So, what’s notable about year-end performance? And what does it suggest about today’s trends?
- One of the biggest data developments is that assets fell 0.1% quarter-over-quarter, driven by a 21.2% quarter-over-quarter drop in borrowings outstanding.
- In the share portfolio, regular shares (savings accounts) continued their exodus from credit unions. They dropped 2.6% year-over-year whereas share certificates grew 16.2%.On a quarterly basis, however, core deposits stemmed the outflow with 0.4% growth in regular shares, 1.6% growth in share drafts, and 2.3% growth in money market accounts. Meanwhile, the higher yield, longer duration products (i.e., IRAs/Keoghs and share certificates) grew modestly — 1% and 2.0% respectively.
- Across the loan portfolio, delinquency has increased. The delinquency rate on first mortgages was 0.79% at year-end, higher than the 0.56% reported one year ago. Other real estate delinquency, such as HELOCs, increased from 0.58% to 0.76%. Used auto loans jumped from 1.11% to 1.16%. New auto loan delinquency rose from 0.50% to 0.58%. Lastly, credit card delinquency jumped from 2.10% to 2.15%. As credit union members feel the pinch of economic headwinds, it has become harder to pay back debt obligations.
Top-Line Performance Metrics
FOR U.S. CREDIT UNIONS | DATA AS OF 12.31.24
SOURCE: Callahan & Associates
Register Today For Trendwatch: Want to know what year-end data reveals about strengths and opportunities in the year ahead? Join Callahan & Associates on Feb. 19 to learn how today’s economic environment has impacted credit unions, what industrywide benchmarks say about performance at your shop, and more. Register today.
Don’t Stop Here: Dig into historical reporting to gain a better understanding of long-term trends. Check out Callahan’s third quarter performance coverage, Market Snapshot, and Two-Year Financial Statement on CreditUnions.com. Read more today.
