Nearly 6,000 credit unions representing 97.7% of the industry’s assets are reporting into Callahan & Associates FirstLook program. These FirstLook credit unions have posted 5.8% share growth in the third quarter of 2015. That’s a 1.7 percentage-point-increase over the 4.1% reported in third quarter 2014 a good sign for credit union performance.
SHARE GROWTH
For FirstLook credit unions | Data as of 09.30.15
© Callahan & Associates | www.creditunions.com
Source: Peer-to-Peer Analytics by Callahan & Associates
Core deposits which are composed of regular shares, share drafts, and money market shares led overall share growth in the third quarter. Total core deposits for FirstLook credit unions expanded 8.1% annually. Regular shares and share drafts posted notable growth of 9.9% and 9.7%, respectively. If FirstLook trends continue, core deposits will reach an all-time high of $737.9 billion as of September 2015.
CORE DEPOSIT GROWTH
For FirstLook credit unions | Data as of 09.30.15
© Callahan & Associates | www.creditunions.com
Source: Peer-to-Peer Analytics by Callahan & Associates
To accompany strong share growth, loans grew 10.8% annually. Higher share and loan balances per member suggest more members are using their credit union as their primary financial institution. Consequently, average member relationships, which measures the average amount of loans and shares each member holds at a credit union, expanded 7.0% year-over-year to reach an all-time high of $17,179 as of September 2015.
AVERAGE MEMBER RELATIONSHIP
For FirstLook credit unions | Data as of 09.30.15
© Callahan & Associates | www.creditunions.com
Source: Peer-to-Peer Analytics by Callahan & Associates