twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Credit Union news

Mortgage Holdings Grow at Credit Unions

Number of credit unions declines

Dec. 3, 2013

By Mortgage Daily staff

The amount of first mortgages owned by credit unions grew in the third quarter, but the number of credit unions was down.

As of Sept. 30, there were 6,620 federally insured credit unions in operation. That was 61 fewer than at the end of the second quarter.

Voluntary mergers numbered 58 in the three months ended Sept. 30, and there was just one bank conversion.

The National Credit Union Administration reported the performance metrics Monday based on call report data.

Credit union membership finished the third quarter at a record 95.9 million. Membership was up 0.7 million from the previous period and up 2 million from a year earlier.

Total loans outstanding at the country's credit unions finished the third quarter at $631.5 billion.

Loan holdings were up 2.9 percent, "a faster pace than in the previous quarter."

The latest total left the loans-to-share ratio at 69.7 percent -- the highest it's been since the end of 2010.

Credit unions with more than $500 million in assets numbered 422 and held more than two-thirds of all credit union assets, or $708 billion.

Although smaller credit unions had higher net worth ratios, they lagged in net worth growth, loan growth, membership gains and return on average assets.

"Smaller credit unions still face challenges in growing loan volume, generating earnings and attracting members, so NCUA must continue to provide them with needed assistance, training and support," NCUA Chairman Debbie Matz said.

Lending was up in nearly every category.

NCUA said that first mortgages holdings were $262.3 billion as of Sept. 30.

Residential first liens increased 3.3 percent from the second quarter, while the growth was 7.7 percent compared to the same quarter last year.

More than 62 percent of first mortgages had fixed rates.

Matz warned that interest rate risk on rate-sensitive deposits, fixed-rate mortgages and some investments should be taken very seriously by credit unions.

"As interest rates go up, credit unions could be caught between a rock and a hard place," Matz said. "They have been paring expenses and reducing loan loss reserves to maintain earnings. However, as they make new loans at lower interest rates than older loans coming off their books, they have been making longer-term investments to increase yield."

Net income for all credit unions increased $1.8 billion, not as much as the $2.2 billion increase in the prior period and the $2.1 billion increase in the same period last year.

next story

back to current headlines

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders