Kansas credit unions’ loans, assets increase in 2012

03/11/2013 10:46 AM

03/12/2013 7:20 AM

The regulator of Kansas-chartered credit unions acknowledged Monday that it was another strong year for the state cooperatives, with total loans and assets increasing in 2012.

Total assets for Kansas-chartered credit unions rose 8 percent between 2011 and 2012 to $4.69 billion, according to the Kansas Department of Credit Unions’ Fourth Quarter 2012 Call Report Statistics. The report also said loans increased by $177 million, to a total of $3.05 billion, a little more than 6 percent increase from 2011.

“I think that indicates confidence on the part of credit union members that they’re still borrowing money,” John Smith, KDCU administrator, said Monday. “Loan growth has been pretty strong.”

While loans, assets and return on average assets, a key measure of profitability, were all higher year over year, Smith and the department’s financial examiner administrator, Michael Baugh, said the office is monitoring credit union delinquencies. That’s because total delinquencies increased 4 percent to $29.1 million at the end of 2012.

“It is something to keep a closer eye on,” Baugh said. “It is something we’re instructing our examiners to look more closely at when they are in the field.”

The report said there were 79 state-chartered credit unions at the end of Dec. 31, 2012, compared with 80 on the same date a year earlier.

Credit union membership in Kansas totaled 576,431 in 2012, up slightly from 574,471 in 2011, the report said.

Wichita Top Jobs

View All Top Jobs

Join the Discussion

The Wichita Eagle is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service