For the first time in two years, Florida's credit unions have experienced a drop in loan delinquencies and net charge-offs, the League of Southeastern Credit Unions reported.

Delinquencies at Alabama credit unions are a half-percentage point below the national credit union average, and net charge-offs have fallen to their lowest level in three quarters, said the league, which represents 332 credit unions in Alabama and Florida.

Alabama credit unions are seeing savings growth nearly one percentage point greater than the national credit union average, while Florida credit union member savings has also been positive for the past four quarters. New and used car loans and first-mortgage loans have remained steady the past four quarters, according to the league.

Alabama credit unions' net worth ratio was 11%, while Florida credit unions net worth ratio was 9%. The league said the industry standard for a well-capitalized financial institution is 7%. Florida credit unions added 25,000 members in the first two quarters of 2010 and have seen positive member growth for three straight quarters.

Collectively, credit unions in Alabama and Florida added $615 million in assets representing five straight years of collective growth in assets. Credit unions' assets in Alabama grew at a 4% rate, which is double the national credit union average, according to the league.

“The challenges facing credit unions in Alabama and Florida have been steep with the high unemployment rates in both states and the depressed housing market in Florida,” said LSCU President/CEO Patrick La Pine. “The second-quarter statistics show that credit unions are working with members to keep them in their homes and to make payments on their loans. This will help position the member for long-term financial success.”