Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
California DFI State CU assets up 1.7
SACRAMENTO, Calif. (4/11/12)--California state-chartered credit unions assets went up 1.7% to $73.1 billion in the fourth quarter 2011 from $71.9 billion a year earlier, according to the California Department of Financial Institutions (DFI).

Shares at $62.9 billion rose 2.5% from $61.4 billion during the same period. Loans declined 4.8%, going to $40.5 billion from $42.5 billion.

State-chartered credit unions net worth was up 7.3%, hitting $7.3 billion from $6.8 billion a year earlier. That caused the net worth to asset ratio to increase to 9.95% from 9.43% a year ago, said DFI.

The fourth-quarter loan loss allowance totaled $1.1 billion, a 13.5% decline from $1.3 billion one year prior, while delinquent loans at $920.7 million dropped 15.3% from $1.1 billion at year-end 2010. Delinquent loans as a percentage of total loans were 2.27%, down from 2.55% a year earlier. Other real estate owned increased 14.7% to $152.3 million from $132.8 million the previous year.

Net margin to average assets was at 4.18% down from 4.38%, while the provision for loan losses decreased 45.2% to $419.6 million from $765 million.

Fourth-quarter net income rose 52.2% to $510.6 million from $335.4 million at year-end 2010.

The number of credit unions declined 2.5% to 158 from 162.


RSS





print
News Now LiveWire
Cornerstone CU Union Foundation says it's prepared to assist #CUs & their employees affected by severe storms in Arkansas and Oklahoma.
2 hours ago
In 2014,use of remote deposit capture experienced 13% increase to 51%. But checking a balance continued to B the most common mobile activity
2 hours ago
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
5 hours ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
8 hours ago
Refinance #MarchMadness: Refis drive up mid-March mortgage apps: MBA http://t.co/rTUnlJB516
11 hours ago