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CU Industry Trends show ‘surging’ loan, membership growth
Credit union membership growth nearly reached the previous record set in 2018 during the third quarter of 2022, increasing roughly 4.5 percent year-over-year according to NAFCU’s latest CU Industry Trends report.
The report also showed “surging and broad-based” loan growth, with both auto and real estate loans growing nearly 20 percent. In addition, loan delinquencies remain at historically low levels.
Other key data from the third quarter trends report found that:
- net interest margins recovered somewhat during the quarter, but fee income continues to fall;
- long-term investments are declining but remain elevated since the onset of the pandemic;
- gross revenue per member rose for the second consecutive quarter; and
- credit unions originated over 8 percent of residential mortgage loans, an all-time high.
NAFCU’s CU Industry Trends is a quarterly report of the latest trends among credit unions and is sent to members only. It is designed to help credit unions identify patterns in industry performance, and to promote comparisons with their own institutions. The report delivers key trends based on NCUA data, both at the industry level and broken down by region, state, and asset class.
In addition, NAFCU's member-only CU Performance Benchmark and Operating Expense reports were recently sent to credit unions and are now available for download. These reports provide credit unions with individualized financial performance and expense analyses based on the most recent call report data.
These reports, composed by NAFCU's award-winning research team, are useful tools for tracking credit unions' progress and comparing it against peer averages. Access more of NAFCU's research products here.