Credit union shares, deposits top $1 trillion: NCUA

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The NCUA reported Thursday that total shares and deposits at federally insured credit unions grew past $1 trillion in the fourth quarter of 2015.Compared to the fourth quarter of 2014, share and deposit accounts overall increased $65.2 billion, or 6.9%.“Year-end data show the credit union system remains sound and focused on providing affordable financial services,” NCUA Board Chairman Debbie Matz said. “Rising deposits indicate consumer confidence in the system, and credit unions are turning those deposits into loans that allow members to buy homes, cars and other goods. New loans also grew by 15.8% in 2015. As lending increased, credit unions’ exposure to long-term investments declined. Nevertheless, (the) NCUA will continue to closely examine credit unions for interest rate risk.” continue reading »last_img