COLUMBUS, Ohio (12/30/11)--Ohio credit unions' financial performance during third quarter continued to stay among the strongest in the nation, said the Ohio Credit Union League in a recent newsletter.
The state's credit unions' performance--especially in annual growth for assets, shares and loans--exceeded national averages, according to the Ohio Credit Union Quarterly Performance Summary for third quarter (eLumination Newsletter
Among the highlights:
- Consumer loan originations were up more than 20% for the first nine months of 2011, with Ohio credit unions originating $2.6 billion in consumer loans for an 11% increase in the amount originated.
- Share balances increased at a slightly faster growth rate than the national average.
- Delinquencies declined by 11 basis points during the past 12 months to a delinquency rate of 1.23%, which is below the national average of 1.6%.
- Capital levels at Ohio credit unions remained at 11.6% of assets--a higher level than the state's banks and thrifts, as well as credit unions and banks nationwide, said the report.