FARMERS BRANCH, Texas (3/5/13)--Texas credit unions added $3.24 billion in loans during the year, reaching a combined portfolio of $48.11 billion at year end--double the growth rate of 2011, according to the Texas Credit Union League.
First mortgages fueled the growth, increasing 14.3% in 2012. Mortgage loans have replaced auto loans as the largest segment of Texas credit unions' loan portfolios, the league said (LoneStar Leaguer
Texas credit union assets grew by $4.18 billion in 2012, ending the year at a cumulative $76.94 billion.
Other financial highlights cited by TCUL include:
- Texas credit union members added $3.66 billion to their savings accounts during the year, reaching $67.13 billion in savings at year end.
- The percentage of Texas credit unions experiencing increased assets grew four percentage points over 2011, reaching 80.7% at year end.
- Return on assets rose 22 basis points over 2011 after stabilization expenses were accounted for, reaching 81 basis points, the highest point in five years.
- Roughly, 81.5% of Texas credit unions experienced positive return-on-assets ratios.
- Net-worth ratios in Texas credit unions reached 10%, for the first time since the Great Recession. Also, 96% of Texas credit unions had a net worth ratio greater than 7%, the point at which the National Credit Union Administration considers a credit union well-capitalized.
- Delinquencies and charge-offs fell again during 2012, with delinquencies accounting for 0.8% of total loans; net charge-offs reached 0.7% in 2012
- The average savings balance for credit union members in Texas reached $8,553, the highest point in five years.
- Texas credit unions maintain 46.1% market share of state consumers' checking accounts. Five years ago that figure was 40%.
- Texas credit unions have penetrated a 0.2% market share of all member business loans. Other financial institutions still account for 99.8% of all small-business lending.