Minnesota Credit Unions Demonstrate Strong Financial Health

According to National Credit Union Administration’s (NCUA) Quarterly U.S. Map Review, Minnesota credit unions experienced solid performance along key indicators, including median annual asset growth, median annual share and deposit growth, membership growth and loan delinquency rate during the first quarter of 2022. Highlights of the Quarterly Map Review include:

•  With $36 billion in assets, Minnesota credit union assets grew 7.2% above the median annual growth rate of   5.2%.
•  Membership at Minnesota credit unions grew 0.8% in median year-over-year member growth, ranking 13th in the nation and above the national average of -0.4%. 
•  Annual deposit growth was 8.0%, ranking 13th nationally.
•  Minnesota credit unions once again had one of the lowest delinquency rates in the nation for the first quarter with 20 basis points.
• 94% of Minnesota Credit Unions had positive year-to-date net income, compared to 77% nationally.​

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According to NCUA, credit unions in Minnesota are now serving over 2 million members! Thank you for all you do to improve the financial wellbeing of Minnesota consumers.