(Sept. 24, 2021) Savings expanded at a slightly quicker pace at state-chartered credit unions than at federal credit unions in the first half of the year, while lending at federals moved ahead slightly faster, according to additional numbers compiled by NASCUS for state and federally chartered credit unions.
Using mid-year call report data provided by NCUA (for federally insured credit unions) and by American Share Insurance (ASI, for privately insured credit unions), NASCUS found that savings at all state-chartered credit unions advanced by $66.3 billion in the first six months of 2021, up 8.18% to a total of $877.2 billion. At FCUs, according to the mid-year data, savings advanced by $62.2 billion, up 7.82% to $857.1 billion.
It was a flip-flop for loans, however, with states just behind the federals. According to the data, all SCUs added $15.2 billion in loans by June 30, 2021 – up 2.57% to $606.8 billion. FCUs ran their loan totals to $599 billion at mid-year – an increase of 2.69% (or $15.7 billion).
Still, in both cases, SCUs hold slight edge in market share of both loans and savings, with 50.3% and 50.6%, respectively