For the first time that I can remember, the NCUA released Q3 financial numbers of credit unions before the FDIC released its Q3 financial numbers for banks. Below are a few interesting stats from the NCUA's press release
- Total savings rose 0.1 percent to $869.7 billion from $868.8 billion.
- Total loans expanded by 1.6 percent to $591.1 billion from $581.7 billion.
- membership increased by 742,847 to 93.9 million, a quarterly growth rate of 0.8 percent
- number of federally insured credit unions declined from 6,961 to 6,888 as industry merger trends continued
It's nice to see more loan growth than deposit growth. That should help deposit rates a little.
I'll have more once the FDIC releases its Q3 report.