Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
State regulator California CU assets up 3 for 1Q
SACRAMENTO, Calif. (7/1/09)--Assets at California credit unions went up more than 3% in the first quarter of 2009, according to the California Department of Financial Institutions Quarterly Report. Credit union assets were at $76.1 billion--up 3.3% from the $73.6 billion reported as of March 31, 2008. Share drafts rose to $63.7 billion from $61.7 billion--a gain of 3.2%. Loans were down 1.4% from March 31, 2008, dropping to $51 billion from $51.7 billion. Members’ equity decreased 15.6%, falling to $6.4 billion from $7.6 billion. This in turn caused the capital-to-asset ratio to decrease to 8.47% from 10.36%. The allowance for loan losses was up 90.36%, rising to $1 billion from $537.9 million. The number of credit unions decreased to 185 from 196--a 5.6% drop. Net margin to average assets increased to 4.12% from 4.02%, while the provision for loan losses was up 71.2%, going to $385.5 million from $225.2 million. Net income went to a net loss of $553 million from a loss of $14.3 million. Delinquent loans were up 78.4%, rising to $946.9 million from $530.9 million.


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
7 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
9 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
10 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
10 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
10 hours ago