The aggregate loan balance of Kansas-chartered credit unions increased by more than 8 percent, according to their state regulator’s quarterly report.
The Kansas Department of Credit Unions’ third quarter 2013 report said loans at the state’s 77 credit unions totaled $3.29 billion as of Sept. 30, compared with $3.03 billion in the same three-month period last year. The year-over-year growth rate puts Kansas above the national average growth rate of total loans outstanding for third quarter 2013, which was 6.8 percent, according to the National Credit Union Administration.
Total Kansas credit union assets for the quarter were $4.9 billion, a 4 percent increase from $4.7 billion in the third quarter of 2012.
Profitability, however, was down slightly year over year. State credit unions’ return on average assets was 0.77 percent in the third quarter of 2013, compared with 0.9 percent in the year-ago quarter. That’s down from a national ROAA of 0.80 percent, according to NCUA third quarter data.
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Delinquencies also inched lower, with the average delinquency ratio falling from 0.89 percent in third quarter 2012 to 0.84 percent this year.