Q3 Call Report Data shows healthy 2016 for Alabama and Florida credit unions

Credit unions in Alabama and Florida continued to experience growth as revealed by 2016 Q3 Call Report Data.

Alabama credit unions have been on a steady upward trend in average asset growth, showing an increase year-over-year in growth from $175.4 million in 2015 to $183.4 million in the third quarter of 2016. That is a healthy increase compared to $161 million in 2014. Total loans in Alabama illustrate an impressive upswing at an increase of 8.7 percent compared to the national average of 7.6 percent, up from a 7.3 percent increase in 2015. Commercial and business loans were significantly on the rise as evident with Member Business Loans showing even more impetus, leaping up from 1.6 percent in 2015 to 14.5 percent in 2016. This increase is almost five percent higher than the national average of only 9.8 percent.

Florida credit unions outpaced other state numbers in total loans and showed continued improvement in savings and asset growth. Total assets were on the rise as Florida credit unions saw an increase of 8.0 percent compared to a national increase of 6.1 percent. The state’s delinquent loan rates were down to 0.70 percent, lower than the national average of 0.77 percent and markedly reduced from a previous 0.91 percent in Q4 of 2015. Total loans rose to 8.7 percent since the end of the fiscal year compared to 7.6 percent nationally for all credit unions. Loan-to-asset ratio has risen year over year from 59.8 percent in 2013, to 62.6 percent in 2014, 63.8 percent in 2015, and now has reached 64.2 percent, an impressive pattern since assets are growing so robustly.