The year-end numbers are in and available!
Confirming what credit unions participating in the First Look program
had indicated, the story for 2001 is strong balance sheet growth,
solid bottom-line performance, and good asset quality. The table
below details the results for all 10,198 U.S. credit unions, which
includes 6,118, federal credit unions with $270 billion in assets
and 4,080 state chartered credit unions with $239 billion in assets.
The state totals figure includes 214 privately insured credit unions
with $8 billion in assets. There are 56 credit unions with over
$1 billion in assets as of December 31, up from 43 at year-end 2000.
While asset growth is the highest in more than 10 years at 14.1%,
loan growth slowed to just under 7% despite double-digit growth
in both first mortgage and used auto loans. The strong share growth
led to a drop of 5.6 percentage points in the loan-to-share ratio
to 73.9%. Credit unions did a good job of managing in the falling
interest rate environment, posting only a 19 basis point decline
in net interest margin and an ROA of 0.99% that is essentially flat
versus 2000. While delinquencies did rise during the year, the 0.85%
delinquency ratio remains within historical norms.
For complete information on the industry, go to CU