ALEXANDRIA, Va. –Federally insured credit unions experienced growth in shares and deposits at the median over the year ending in the fourth quarter of 2024, but more than half of all FICUs had fewer members at year-end than when the year began, according to the newest  Quarterly U.S. Map Review released by NCUA. 

In addition, loans outstanding were unchanged, the median delinquency rate rose, 86% of federally insured credit unions had positive year-to-date net income in the fourth quarter of 2024, compared with 87% in the fourth quarter of 2023.

At the median, membership declined in 33 states and Washington, D.C. over the year.

NCUA said its Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia and includes information on two important state-level economic indicators: the unemployment rate and home prices.

Here’s how credit by category and by stated, according to the NCUA Quarterly Map Review: 

Median Annual Asset Growth

• Nationally, assets in federally insured credit unions increased by 0.9% at the median over the year ending in the fourth quarter of 2024. “In other words, half of all federally insured credit unions had asset growth at or above 0.9% and half had asset growth of 0.9% or less,” NCUA said.
• During the year ending in the fourth quarter of 2023, the median growth rate in assets was negative 1.5%.
• Over the year ending in the fourth quarter of 2024, median asset growth was fastest in Maine (6.0%) and Wyoming (5.4%).
• At the median, assets declined in nine states and Washington, D.C. over the year ending in the fourth quarter of 2024. Delaware (-2.0%) and New Jersey (-1.9%) experienced the largest decline in median assets over the year.

Median Annual Share and Deposit Growth

• Nationally, shares and deposits increased by 0.8% at the median over the year ending in the fourth quarter of 2024. During the year ending in the fourth quarter of 2023, the median growth rate in shares and deposits was negative 3.0%.
• Over the year ending in the fourth quarter of 2024, median growth in shares and deposits was fastest in Maine (6.2%) and South Dakota (4.9%).
• At the median, shares and deposits declined in eleven states and Washington, D.C. over the year ending in the fourth quarter of 2024. Shares and deposits declined the most in Washington, D.C. (-3.5%) and Delaware (-2.3%) over that time.

Median Annual Membership Growth

• While membership continued to grow in the aggregate over the year ending in the fourth quarter of 2024, at the median, membership declined by 0.4%. 
• Membership was roughly unchanged at the median over the year ending in the fourth quarter of 2023. 
• Overall, about 55% of federally insured credit unions had fewer members at the end of the fourth quarter of 2024 than a year earlier. Credit unions with falling membership tend to be small; over half had less than $50 million in assets in the fourth quarter of 2024.
• Over the year ending in the fourth quarter of 2024, credit unions headquartered in Alaska (1.7%) and New Hampshire (1.6%) experienced the strongest median membership growth.
• At the median, membership declined in 33 states and Washington, D.C. over the year. New Jersey (-2.1%) and Pennsylvania (-1.4%) saw the largest median decline in membership.

Median Annual Loan Growth

• Nationally, loans outstanding were roughly unchanged at the median over the year ending in the fourth quarter of 2024. Over the previous year, loans increased by 6.2% at the median.
• Over the year ending in the fourth quarter of 2024, median loan growth was strongest in Nevada (4.5%) and Montana (4.4%).
• At the median, loans outstanding declined in Washington, D.C. and twenty-four states over the year, led by Oklahoma (-3.2%) and West Virginia (-2.7%).

Median Total Delinquency Rate

• At the end of the fourth quarter of 2024, the median total delinquency rate among federally insured credit unions was 69 basis points, compared with 61 basis points at the end of the fourth quarter of 2023.
• At the end of the fourth quarter of 2024, the median delinquency rate was highest in Mississippi (141 basis points) and Louisiana (127 basis points).
• The median delinquency rate was lowest in Montana (34 basis points) and New Hampshire (36 basis points) at that time.

Median Loan-to-Share Ratio

• Loan-to-share ratios are rounded to the nearest percentage point.
• Nationally, the median ratio of total loans outstanding to total shares and deposits – the loan-to-share ratio – was 71% at the end of the fourth quarter of 2024. At the end of the fourth quarter of 2023, the median loan-to-share ratio was 72%.
• The median loan-to-share ratio was highest in Idaho (90%) and Vermont (86%) at the end of the fourth quarter of 2024.
• The median loan-to-share ratio was lowest in Delaware (49%) and New Jersey (52%) at that time.

Median Return on Average Assets

• Nationally, the median return on average assets at federally insured credit unions was 61 basis points in 2024, compared with 60 basis points in 2023.
• Wyoming (108 basis points) and Montana (99 basis points) had the highest median return on average assets in 2024.
• New Jersey (26 basis points) and Delaware (27 basis points) had the lowest median return on average assets at that time.

Share of Credit Unions with Positive Net Income

• Shares of credit unions with positive net income are rounded to the nearest percentage point.
• Nationally, 86% of federally insured credit unions had positive year-to-date net income in the fourth quarter of 2024, compared with 87% in the fourth quarter of 2023.
• In the fourth quarter of 2024, the share of federally insured credit unions with positive year-to-date net income was highest in Maine (98%), followed by Michigan and Montana (95%).
• The share was lowest in Vermont (69%) and New Jersey (70%) at that time.

The full report can be found here.