Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Louisiana CUs review shows growth across the board
HARAHAN, La. (9/25/09)--Louisiana credit unions experienced across-the-board growth in assets, loans and membership in the quarter ending June 30, according to data submitted to the National Credit Union Administration (NCUA) in the Second Quarter 2009 Call Report, said the Louisiana Credit Union League. Total assets of Louisiana's credit unions increased 1.9% during the second quarter to $7.9 billion from $7.7 billion. The increase is slightly higher than the national increase of 1.5% (eNews Sept. 23). Membership growth in the state during the second quarter continued on a slow but steady pace, reaching 1,163,755 members as of June 30. That is a 1.1% increase over the first quarter, the league said. The number of potential members rose 5.9% from 9.9 million to 10.5 million. Louisiana’s credit unions reported a higher net worth ratio, lower cost of funds, and higher return on average assets as compared to national averages. The statistics are:
* Net Worth Ratio: Louisiana--12.27; National--10.04; * Cost of Funds (annualized): Louisiana--1.91; National--2.22; * Return on Average Assets (annualized): Louisiana--0.53; National--0.26.
Despite the weak national housing market, Louisiana's credit unions continue to see a steady increase in real estate lending, the league said. Louisiana’s credit unions reported $1.4 billion in total real estate loans outstanding for the second quarter, which is a 3.8% increase over the first quarter and an 11.5% more than the same period last year. Total loans rose 3.1% for the quarter and 9.2% from this time last year. Yield on loans (annualized) was higher than the national average, 7.05%, compared with 6.30% nationally. Delinquent loans to total loans was below the national average, at 1.22% for Louisiana compared with 1.59% nationally. The state’s economy has remained healthy despite the national recession, and Louisiana's credit unions are no exception, the league said.


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
12 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
15 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
15 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
16 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
17 hours ago