We recently launched FINsights at Cinchy which provides instant access to comprehensive data, charts, and insights from over 20 years of credit union and banking activity.
The data we use comes from the NCUA, we used FINsights to take the data and consolidate it to find 4 emerging patterns impacting the Credit Union industry.
Pattern #1: Overall Market Conditions
Amid a general downturn in deposits across the financial services sector, credit unions stand out as a beacon of resilience. The growth in credit union deposits is not just a statistic; it reflects the increasing consumer confidence in these cooperative financial institutions.
Pattern #2 - Return on Average Assets (ROAA)
Credit unions, historically known for their stability, lag behind the broader industry in terms of Return on Average Assets by nearly half. This intriguing trend serves as a testament to the steadiness that credit unions have consistently exhibited.
Pattern #3 - Delinquencies and Consumer Behavior
While delinquencies are on the rise across the entire financial sector, credit unions are experiencing a more pronounced uptick. This raises an interesting question: are consumers intentionally delaying payments to credit unions, prioritizing other financial institutions over them?
Pattern #4 - Loan and Lease Growth
The growth of loans and leases in credit unions is maintaining pace with that of banks. This suggests that credit unions are remaining competitive in the lending sphere, indicating their potential for continued growth and prosperity.