There has been a great deal of discussion lately on the struggles of smaller to medium-sized credit unions. They face many challenges to remain on par with their peers, while not breaking the bank. However, the other side of the coin is the strength of the industry as a whole. Though 70% of the credit union population is composed of smaller credit unions, here are some numbers that illustrate basic performance facts of today's credit union industry:
$111.3 Million - The total number of credit union members. This is up from 93.9 million in 2012. Meaning, in just 5 short years, the number of total credit union members has jumped by 17.4 million members industry-wide.
5,573 - The number of federally insured credit unions in the US at the end of 2017. Though this number is slightly down from previous years (6,273 in 2014), the amount of assets has grown...
$1.38 Trillion - Total CU assets is at $1.38 Trillion, up from $1.12 Trillion in 2014. This growth is great for the credit union industry as a whole.
$1.1 Trillion - The total insured shares and deposits, which equates to $10,415 in shares per member. By contrast, in 2014, there were 99 million members, and the average shares per member was $9,576.
$957.3 Billion - Total amount of loans across the credit union industry, holding an average member loan balance of $14,807 and a Loan-to-Share ratio of 82.6%.
50% - Percentage of credit union loans that are mortgage or real estate loans.
35% - Percentage of CU loans classified as auto loans.
.81% - The delinquency ratio has improved from .85% in 2014 to .81% in 2017.
These facts are all great indicators of how well the credit union system is performing as a whole and also point to the need to improve efficiency within smaller to mid-sized credit unions. To learn more about credit union efficiency ratios, and measuring what matters most, read our information on the 7 Key Efficiency Ratios.
