Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Kansas CUs grew in nearly all areas in 4Q
WICHITA, Kan. (3/8/12)--State-chartered credit unions in Kansas grew in nearly every performance category during the fourth quarter, except for one that reflects past-due accounts, according to the Kansas Department of Credit Unions' (KDCU) quarterly report.

Total loans at the state's 80 credit unions rose 6.4% year-over-year to $2.88 billion. Assets increased 8% to $4.43 billion. Credit union membership also climbed by 1,434 members--to 574,471 (The Wichita Eagle March 7).

The largest change was in delinquencies, which during the 12-month period fell 23% to $28 million. The steepest year-over-year drop in delinquencies occurred between the December 2010 and March 2011 period, Michael Baugh, KDCU financial examiner administrator, told the Eagle.

"Kansas credit unions have continued to support our members' loan needs, even as other financial institutions have pulled back in lending," Bob Mayes, vice president of member and strategic services at the Kansas Credit Union Association, told News Now. "The drop in delinquency demonstrates the continued commitment of Kansas credit unions to effective lending and solid underwriting processes."

Kansas credit unions' return on average assets was 0.8%, compared with 0.71% in the fourth quarter of 2010.

Because credit unions set aside fewer funds as provisions for loan losses, that likely boosted revenue growth, Baugh told the paper. Also, the National Credit Union Share Insurance Fund didn't assess credit unions a premium, he added.

For 2012, Kansas regulators said their biggest concern is rising interest rates. Credit unions that have mortgages with fixed-interest rates or government- or mortgage-backed securities with low interest rates could see downward pressure on their net interest margin, John Smith, KDCU's administrator, told the paper.


RSS print
News Now LiveWire
Mo. #creditunion house hosts summer caucus for state Dems #CUHouse @MCUA_news http://t.co/AoKth9ULDs
20 minutes ago
La. #creditunion league launches new biz development council #NewsNow http://t.co/XTi6OFWS3Q
1 hours ago
Reap the benefits of #creditunion membership says @CharisseAmanda at @HuffingtonPost http://t.co/zCndkbaM2S
1 hours ago
#100MM growth? Look at millennials, philosophies that align w/ #creditunions @MyFoxTampaBay See #NewsNow http://t.co/Fsjay52a5m
1 hours ago
96 #creditunions across Britain have applied for funding from Lloyds Banking Group #CreditUnion Development Fund http://t.co/quq3OEE0Qq
17 hours ago