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News Now

CU System
Loans members assets delinquencies in Kansas CUs
WICHITA, Kan. (12/22/09)--Kansas credit unions have experienced an uptick in assets, loans, members and delinquencies in the third quarter, according to a report from the Kansas Department of Credit Unions released last week. Credit union assets were up 14% to $3.75 billion compared with the third quarter of 2008, the report said (The Wichita Eagle Dec. 18). Other highlights of the report were:
* Credit union membership rose nearly 6% to 539,000; * Loans increased nearly $76 million to roughly $2.5 billion in the third quarter; * Delinquencies jumped 42% to $35.6 million, compared with the same period last year: and * Return on average assets was 0.80% before accounting for fees credit unions had to pay to replenish the National Credit Union Share Insurance Fund. Once the fees were factored in, ROAA was 0.69%.
“We’re pleased with the overall performance of the credit unions,” Jerel Wright, assistant vice president of consulting and compliance with the Kansas Credit Union Association, told News Now. “Credit unions still are looking at writing down further losses from the National Credit Union Administration (NCUA) assessment. So that will be the biggest drag. “The credit unions all are saying it would be a really good year, except for the NCUA assessments,” he concluded.
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