Hawaii's credit unions are experiencing growth in assets, according to recent data released by the National Credit Union Administration (NCUA). This information, which could not be independently verified by Pacific Business News, offers insights into the financial landscape of the state and its potential implications for local businesses and investors.
The NCUA's data indicates that while assets in federally insured credit unions are increasing, contributing to the overall strength of the credit union system, there are also some concerning trends. The NCUA Quarterly U.S. Map Review reveals key indicators, including median four-quarter growth in shares and deposits and median delinquent loans as a share of total loans. NCUA reported that the median delinquency rate rose, which may reflect the economic headwinds impacting borrowers. Nationally, assets in federally insured credit unions increased by 0.9 percent at the median, and shares and deposits increased by 0.8 percent over the year ending in the fourth quarter of 2024. NCUA This growth in assets and insured shares is seen as positive news, reflecting the credit union system's strength and resilience amidst a mixed economic environment, according to NCUA Chairman Kyle S. Hauptman. NCUA
The ability of credit unions to maintain and grow assets is crucial for the financial health of Hawaii's communities. These institutions often play a significant role in providing loans to small businesses and offering financial services to individuals. Further analysis of the NCUA data will be essential to gauge the extent of the impact of rising delinquency rates, and how it might affect lending practices and overall economic activity in the state. The NCUA makes the complete details of its quarterly Call Report data available online in an Aggregate Financial Performance Report. NCUA
