NCUA Releases 2024 Fourth Quarter Credit Union System Performance Data
ALEXANDRIA, Va. (March 11, 2025) – According to the latest financial performance data released today by the National Credit Union Administration, total assets in federally insured credit unions rose by $52 billion, or 2.3 percent, to $2.31 trillion over the year ending in the fourth quarter of 2024. Insured shares and deposits grew $58 billion, or 3.4 percent, to $1.78 trillion. The delinquency rate at federally insured credit unions was 98 basis points in the fourth quarter of 2024, up 15 basis points from one year earlier.
“The growth in assets and insured shares is good news and reflects the strength and resiliency of the credit union system when operating within a mixed economic environment,” NCUA Chairman Kyle S. Hauptman said. “The NCUA is closely watching interest rates, delinquency rates, and inflation and their effects on the economy. Credit union managers and directors should prepare for a variety of interest rate scenarios and economic conditions.”
Highlights from the NCUA’s Quarterly Data Summary Report for the fourth quarter of 2024 include:
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The credit union system’s net worth increased by $14.2 billion, or 5.9 percent, over the year to $255.3 billion.
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The return on average assets for federally insured credit unions was 63 basis points in 2024, down from 68 basis points in 2023. The median return on average assets across all federally insured credit unions was 61 basis points, up 1 basis point from a year earlier.
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Net income for federally insured credit unions in 2024 totaled $14.4 billion, down $0.5 billion, or 3.6 percent, from 2023. Interest income rose $17.1. billion, or 17.4 percent, to $115.2 billion. Non-interest income rose $1.8 billion, or 7.2 percent, to $26.6 billion, largely reflecting an increase in other non-interest income.
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The delinquency rate at federally insured credit unions was 98 basis points in the fourth quarter of 2024, up 15 basis points compared with the fourth quarter of 2023.
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The net charge-off ratio for all federally insured credit unions was 80 basis points in the fourth quarter of 2024, up 19 basis points compared with the fourth quarter of 2023.
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Total loans outstanding increased $42 billion, or 2.6 percent, over the year, to $1.65 trillion. The average outstanding loan balance in the fourth quarter of 2024 was $18,410, up $488, or 2.7 percent, from one year earlier.
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Total shares and deposits grew by $78.2 billion, or 4.2 percent, over the year to $1.96 trillion in the fourth quarter of 2024.
The NCUA makes credit union system performance data available in the Credit Union Analysis section of NCUA.gov. The analysis section includes quarterly data summaries and detailed financial information, a graphics package illustrating financial trends in federally insured credit unions, and a spreadsheet listing all federally insured credit unions that filed a call report as of December 31, 2024, including key metrics.