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.