Q3 report confirms strong CU performance

The Association’s latest summary of quarterly Call Report data, with a focus on Utah credit unions, is available for download here.

The report confirms many trends already reported by industry economists, such as tremendous loan growth and increasing net interest margin and income.

A few notable points:

  • Credit unions based and operating in Utah continue to experience higher return on assets, loan growth, and net interest margin than credit unions throughout the country or in neighboring states.
  • Notably, credit card balances continued to grow in in this quarter—higher for Utah than in regional or national peer groups. In addition, delinquency has started to climb in Utah—although not as steeply as on a national level. Credit cards, as always, continue to have the highest delinquency of any tracked loan type. Net charge-offs crept slightly upward.
  • Unsurprisingly, given the many billboards along the I-15 corridor advertising surprising certificate rates, for the first time since early 2020, certificate balances have increased for Utah credit unions.

The report is designed to be easily digested, with numerous bright, easy-to-read charts that compare Utah-based credit unions, credit unions operating in Utah, regional western credit unions, and all USA credit unions—without a lot of commentary. Glancing through the report typically takes just a few minutes.

Download the entire report here.

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