Federally insured credit unions again reported increases in shares and deposits and membership during the fourth quarter of 2016, the NCUA reported Monday.
At federally insured credit unions, shares and deposits increased by $76.6 billion, or 7.5% over the year, to $1.09 trillion during the fourth quarter of 2016.
Total assets in federally insured credit unions increased by $88 billion, or 7.3% over the year, to $1.29 trillion during the fourth quarter of 2016.
Federally insured credit unions added 4.2 million members over the year, with membership totaling 106.9 million during the last quarter of 2016.
Credit unions with assets of more than $1 billion reported the largest growth in loans and membership during the last quarter of the year, the NCUA said.
The number of federally insured credit unions declined to 5,785 in the fourth quarter of last year, compared with 6,021 during the last quarter of 2015.
Total loans outstanding at federally insured credit union increased 10.4%, or $82 billion. The average outstanding loan balance in the fourth quarter stood at $14,195, up $486 from a year ago. The delinquency rate was 83 basis points during the fourth quarter, up a bit from 81 basis points a year earlier.
Credit union loan balances increased over the year in every major category.
The loans-to-shares ratio at federally insured credit unions was 79.5% in the fourth quarter, up from 77.5% during the last quarter of 2015.
