Credit unions in Massachusetts continued to perform well in the fourth quarter of 2017, but showed zero growth and potentially even losses in membership.

Credit unions in Massachusetts saw between 2 percent and 4 percent asset and deposit growth in the fourth quarter of 2017, falling right in line with the national average, while seeing zero to -0.5 percent in membership growth, according to the National Credit Union Administration’s state quarterly review.

While overall membership in federally insured credit unions continued to grow during 2017, at the median, membership was unchanged.

Membership declined 0.1 percent at the median over the previous year. Overall, half of federally insured credit unions had fewer members at the end of the fourth quarter of 2017 than a year earlier. Credit unions with falling membership tend to be small; about 75 percent had less than $50 million in assets

Over 80 percent of credit unions in the state saw positive net income in the fourth quarter.

Overall loan growth was in the 3 percent to 5 percent range, with the average national loan growth at about 5 percent.

Delinquency rates were between 40 and 60 basis points, lower than the national average of 76 basis points, which is also down from the fourth quarter of 2016.

Return on assets at Massachusetts Credit Unions was in the 25 to 35 basis point range.

MA CUs Show Solid Performance in Q4, but Flat Membership Growth

by Bram Berkowitz time to read: 1 min
0