ALEXANDRIA, Va.-NCUA put a spotlight on credit unions' first quarter trends for 2004 in a Letter to Credit Unions (04-CU-08) released last week. Through March 31 of 2004, credit union assets grew $17.1 billion or 2.80%, which would indicate a growth rate of 11.20% by year-end. Net worth was also up, totaling $1.4 billion for a 2.09% increase; the net worth ratio however fell from 10.71% to 10.64%. As the economy climbs out of its two-year slump, loans increased in the first quarter by $4.0 billion or 1.07%, while savings remained strong at $14.9 billion, an increase of 2.83%. Because savings is still outpacing loans, the loan-to-share ratio dipped to 69.97% from 71.19%.
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