Subscribe
Share
Share
Embed
This podcast provides you the ability to listen to new regulatory guidance issued by the National Credit Union Administration, and occasionally the F D I C, the O C C, the F F I E C, or the C F P B. We will focus on new and material agency guidance, and historically important and still active guidance from past years that NCUA cites in examinations or conversations. This podcast is educational only and is not legal advice. We are sponsored by Credit Union Exam Solutions Incorporated. We also have another podcast called With Flying Colors where we provide tips for achieving success with the N C U A examination process and discuss hot topics that impact your credit union.
Samantha: Hello, this is Samantha Shares.
This episode covers N C U Aâs First
Quarter 20 24 Credit Union System
Performance Data press release.
The following is an audio version of
that advisory and the press release.
This podcast is educational
and is not legal advice.
We are sponsored by Credit Union
Exam Solutions Incorporated, whose
team has over two hundred and
Forty years of National Credit
Union Administration experience.
We assist our clients with N C
U A so they save time and money.
If you are worried about a recent,
upcoming or in process N C U A
examination, reach out to learn how they
can assist at Mark Treichel DOT COM.
Also check out our other podcast called
With Flying Colors where we provide tips
on how to achieve success with N C U A.
And now the press release.
Credit Union Assets, Lending,
Insured Shares, Delinquencies Grow
N.C.U.A.
Releases First Quarter 2024 Credit
Union System Performance Data
June 5th 20 24,
According to the latest financial
performance data released today by the
National Credit Union Administration,
total assets in federally insured
credit unions rose by 96 billion
dollars , or 4 point 4 percent, over
the year ending in the first quarter of
20 24 to 2 point 31 trillion dollars.
During the same period, total
loans outstanding increased 71
billion dollars, or 4 point 6
percent, to 1.60 trillion dollars.
Insured shares and deposits rose
40 billion dollars, or 2 point 3
percent, to 1 point 77 trillion
dollars, from one year earlier.
The delinquency rate at federally insured
credit unions was 78 basis points in the
first quarter of 20 24, up 25 basis points
compared with the first quarter of 2023.
The N.C.U.A.âs Quarterly Credit Union
Data Summary provides an overview
of the financial performance of
federally insured credit unions
based on information reported to the
agency in the first quarter of 20 24.
As of March thirty first, 20 24, there
were 4,572 federally insured credit
unions with 140 point 4 million members.
Beginning with the first quarter of
20 24 Call Report, federally insured
credit unions with more than 1 billion
dollars in assets are required to
disclose, separately, income from
overdraft and nonsufficient funds fees.
For first quarter 20 24, these large
credit unions reported a total of nearly
916 million in overdraft and N S F fees.
For more information on credit unionsâ
collection and reporting of overdraft
and N S F fees, see the Appendix.
Highlights from the N.C.U.A.âs
quarterly data summary report
first quarter of 2024 include:
⢠Net income for federally insured credit
unions in the first quarter of 20 24
totaled 15 point 0 billion dollars
at an annual rate, down 2 point 8
billion dollars, or 15 point 6 percent,
from the first quarter of 20 23.
Interest income rose 21 point 4 billion
dollars, or 24.0 percent, over the
year to 110 point 4 billion annualized.
Non-interest income rose 2 point 6
billion, or 10.6 percent, to 26 point 6
billion annualized, largely reflecting
an increase in other non-interest income.
⢠The credit union systemâs provision for
loan and lease losses or credit loss
expense increased 4 billion dollars , or
45 point 8 percent, over the year to
12 point 7 billion dollars at an annual
rate in the first quarter of 20 24.
⢠Total loans outstanding increased
70 point 7 billion dollars , or
4 point 6 percent, over the year,
to 1 point 6 trillion dollars
⢠Total shares and deposits rose by 45
billion dollars, or 2 point 4 percent,
over the year to 1 point 93 trillion
dollars in the first quarter of 20 24.
Regular shares declined by 68 billion
dollars, or 10 point 6 percent,
to 574 point 4 billion dollars.
Other deposits increased by 124 point
8 billion dollars, or 14.6 percent,
to 978 point 7 billion dollars, led
by share certificate accounts, which
grew 155 point 7 billion dollars,
or 43 point 0 percent, over the
year to 517 point 8 billion dollars.
⢠The credit union systemâs net worth
increased by 13 point 3 billion
dollars, or 5 point 7 percent, over
the year to 245 billion dollars.
The aggregate net worth ratio â net
worth as a percentage of assets
â stood at 10 point 62 percent in the
first quarter of 20 24, up from 10
point 48 percent one year earlier.
The N.C.U.A.
makes credit union system performance
data available online in the credit
union analysis section of N.C.U.A.
gov.
The analysis section includes quarterly
data summaries as well as detailed
financial information, a graphics
package illustrating financial trends
in federally insured credit unions and
a spreadsheet listing all federally
insured credit unions as of March
31, 20 24, including key metrics.
This concludes the press release
If your Credit union could use assistance
with your exam, reach out to Mark Treichel
on LinkedIn, or at mark Treichel dot com.
This is Samantha Shares and
we Thank you for listening.