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
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
10 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
11 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
13 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
13 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
13 hours ago