2002 loan growth poised to outpace 2001, early Callahan CU data shows

WASHINGTON – First Look third quarter data released by Callahan & Associates show credit union loan growth for 2002 should probably exceed 2001′s results. Callahan’s figures place loan growth at 6.3% year-to-date. Loan growth for the entire year 2001 was 6.7%. The First Look data is based on 1,192 credit unions with combined assets of $180 billion, that represent about a third of the industry’s assets. Overall, the data show CUs continue to be financially sound. Their net worth-to-assets ratio increased slightly to 10.0% from 9.9%, and the delinquency ratio remains a low 0.6%. First Look CU’s share growth YTD is 9.9%. Callahan said it too remains strong, but it will likely finish the year below last year’s 14.7% growth. For the second straight quarter though, loan growth – 2.0% in the third quarter – outpaced share growth – 1.5% in the third quarter. In the second quarter loan growth and share growth figures were 3.0% and 2.1%, respectively. -