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Idaho, Rhode Island credit unions lead nation in loan growth in 2013

resized_NCUA_SEALCredit unions in Idaho and Rhode Island led the nation in loan growth during the year ending in the third quarter, according to recent data released by the National Credit Union Administration.

Total loans outstanding at federally insured credit unions rose by 6.8 percent in the year ending in the third quarter, following a 4.3 percent increase in the second quarter.

Idaho and Rhode Island posted the fastest loan growth—15.2 percent and 12.6 percent, respectively—while loans declined by 4.4 percent in the U.S. Virgin Islands, marking the largest decline in the nation.

In terms of asset growth, total assets rose by 4.3 percent in the year ending in the third quarter after a 6.5 percent rise in the second quarter. Idaho and Iowa showed the strongest asset growth, with 9.3 percent and 8.2 percent, respectively.

Idaho and Virginia led the nation in membership growth, which increased 8.9 percent and 7.8 percent, respectively. Membership fell in nine states, including Arizona, Arkansas, Connecticut, Florida, Indiana, Kentucky, Massachusetts, Nevada and West Virginia, as well as in the District of Columbia and the Virgin Islands.

Nationwide, credit union membership rose 2.2 percent to reach nearly 96 million in the year ending in the third quarter, marking a 2.7 percent year-over-year increase.

Total shares and deposits at federally insured credit unions increased by 4.2 percent, compared to a 6.2 percent increase in 2012. Shares and deposits rose nine percent in Iowa—the largest gain in the country—while Massachusetts posted the only decline, with shares and deposits falling 2.1 percent.

Additionally, during the third quarter, one percent of loans at federally insured credit unions were delinquent, down from 1.2 percent the year prior. Delinquencies have fallen in 39 states and Guam over the past year. New Jersey and Florida posted the highest delinquency rates—two percent and 1.9 percent, respectively—while New Hampshire and Idaho posted the lowest rates, at 0.5 percent.

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