ALEXANDRIA, Va. – At press time, NCUA's first quarter numbers were just released and show loan delinquencies continue to decline while net worth is at a five-year high. According to NCUA Call Report data the nation's 8,945 federally-insured credit unions are well capitalized with net worth near at 10.93% and a 0.92% return on average assets. Loans also grew at a 4.57% annualized rate as loan delinquencies continued their decline. "Loan delinquency is near a three-year low at 0.64%, and net charge-offs also declined in the first quarter of 2005," said NCUA Chairman JoAnn Johnson. "In fact, total loan delinquencies declined 9.4% in the first three months of 2005 while recoveries grew at an 18.8% annualized rate." In the past 12 months, federally insured credit union membership grew by 1.2 million people while assets grew by $34.7 billion. Net long-term assets remain near all-time highs at 25.18%. NCUA has reminded credit unions they should have adequate interest rate risk measurement processes in place as well as asset/liability management policies and procedures sufficient for the level of risk. In other areas, assets increased 2.38% to $662.4 billion from $647.0 billion. Other boosts were seen in shares, which went to $570.2 billion from $556.1 billion. Investments also saw growth in the first quarter going from $1.597 billion to $1.63.7 billion. Net worth for the first four months of 2005 increased 2.11% to $72.4 billion from $70.9 billion. NCUA made several changes to its call data reporting, which became effective with the first quarter 2005′s information. Regarding assets, it clarified that loan commitments to originate or acquire mortgage loans that will be resold could be reported as "other assets" or "other liabilities," depending on their fair value. Investments purchased and identified to fund deferred compensation agreement obligations should also reported as "other assets." With loans, NCUA separated accounts 617A and 618A, number and outstanding indirect loans into two subcategories: indirect loans-point of sale arrangement; and indirect loans-outsourced lending relationship. The regulator eliminated accounts 692 and 692A, which are loans in the process of liquidation. Other changes to call report data included adding "debt cancellation/suspension program" to the list of new programs or service offerings and clarified the definition of "aggregate cash outlay" as it relates to credit union service organizations. NCUA also made a few additions and eliminations in the borrowings category. It added a line to capture draws against lines of credit separately from "Other Notes, Promissory Notes, and Interest Payable" and added accounts to capture total credit lines and total committed credit lines. It eliminated account 865, "Amount of Promissory Notes Outstanding to Non-Members"; account 895, "Is your credit union a member of a corporate credit union?"' and account 899, "Has your credit union purchased a committed line of credit with a corporate credit union, other credit union, or other financial institution?" [email protected]