The number of Federally-Insured credit unions was cut by nearly 15% in the 5 years ended March 31, 2023, yet membership climbed more than 20%. The big keep getting bigger while the small fight to survive. Fifty-one 5-star credit unions…
Category: Credit Unions
Credit Union Data is all About the Loans
First quarter 2023 credit union data is all about loans. After jumping 17.6% from a year ago, total loans outstanding at federally insured credit unions now top $1.5 trillion. At $17,310, the average loan balance was up almost 6% from…
CU Expansion to Serve the Underserved
Last year at this time (JRN 39:09), we reported that 31 credit unions had received approval in calendar year 2021 to expand their fields of membership (FOM) into underserved areas. Continuing on with last week’s theme of bank expansion into…
Happy Holidays… New Credit Union Star-Ratings
Jerome Powell may be the grinch trying to steal Christmas this year with the help of the Fed’s Open Market Committee. They raised borrowing costs another ½ point this week, making those credit card bills just a little more difficult…
Problematic CUs at Highest Level Since 2014
Federally-Insured Credit Unions rated 2-Stars or below, and therefore relegated to Bauer’s Troubled and Problematic Credit Union Report (T&P), are climbing, slowly but surely. Currently at 150 (out of 4,853), that may not seem like a lot. But, it has…
All New Credit Union Star-Ratings this Week
Loans at our nation’s federally-insured credit unions grew by $194 billion (or 16.2%) over the 12 month period ending June 30, 2022. That marks the largest increase in at least 20 years. Provisions for potential losses on those were bolstered…
Credit Union Industry’s Growing Footprint
As the nation’s banking industry continues to contract, losing more than 3,000 branch offices in the 12 month period ending March 31, 2022 (JRN 39:27), credit unions are growing their presence, albeit slowly. During the same 12 month period, federally-insured…
Banks Prepare for Economic Downturn
Coral Gables, Florida, June 22, 2022: BauerFinancial, Inc., the nation’s premier Bank and Credit Union rating firm, reports that net income at our nation’s banks dropped over 22% from a year ago. This, as banks find the need to bulk…
All New Credit Union Data Now Available
The Federal Reserve boosted short-term interest rates by three-quarters of a percent on Wednesday. That completes the removal of the 1.5% easing of credit (March 2020) intended to “stimulate” the economy during the Covid-19 shutdown. The target Fed Funds rate…
Some CUs Bank on Bank Deals, Most Don’t
On May 12th, 5-Star DFCU Financial, a $6.456 billion credit union headquartered in Dearborn, MI, announced it will enter the Florida market with the purchase of 4-Star First Citrus Bank, Tampa. First Citrus Bank has $660 million in assets and…