Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Kansas CUs have strong 3Q delinquencies drop
TOPEKA, Kan. (12/8/11)--Kansas credit unions saw gains in loans and assets, as well as a decline in delinquencies, during third quarter, according to a report released by the Kansas Department of Credit Unions.

The department regulates 80 state-chartered credit unions. It reported that assets in Kansas credit unions for the quarter totaled $4.28 billion,  up 7.8% from third quarter 2010 (The Wichita Eagle Dec. 7).  Loans totaled $2.84 billion, an increase of 5.7% over the same period last year.

The delinquency ratios for credit unions dropped to 0.98% from 1.36%, which regulators said was a significant drop in a year's time.  Michael Baugh, KDCU financial examiner administrator, told the newspaper paper that anything below 1% would be significant.

Two factors contributed to the lower delinquency ratio, said Baugh and KDCU Administrator John Smith: a decrease in the total amount of delinquency to $27.8 million from $36.7 million, and the increase in loans, which dilutes the delinquency total. Baugh also noted credit unions have worked hard to collect on overdue loans.

The department also reported membership increased  3.7% to 573,026 members during the quarter.  To access the report, use the link.
Other Resources

RSS print
News Now LiveWire
Why is a #creditunion a good fit for you? http://t.co/i4pGT98mkT via @MONEY
9 hours ago
The numbers are in: Home Depot data breach impact on #creditunions = $57.4 million, 7.2 million credit/debit cards http://t.co/jorYSOYuxj
10 hours ago
.@Nussle : We'll back off when retailers accept their breach responsibility #NewsNow http://t.co/7WxDXicb6j
12 hours ago
RT @asmarterchoice: RT @daily_finance: Top 5 money management tips for 30-somethings http://t.co/mWRfDRSTE7
12 hours ago
Operational efficiencies focus of new @CUNA program #NewsNow http://t.co/qBYHKVYeQN
13 hours ago