2023 Q3 Quarterly Report Now Available

The Association’s most recent summary of quarterly Call Report data, focusing on Utah credit unions, continues to show the effects of actions taken by the Federal Reserve. Those include:

  • Widening, but flattening, interest net interest margin (page 4 of the report).
  • Loan growth slowing (but still healthy) (page 5 of the report).
  • In Utah, more dollars of “other real estate” loans are being originated than 1st mortgages (page 6 of the report).
  • Delinquency closer to historical norms (page 11 of the report).
  • Continued high growth in certificate deposits (page 13 of the report).
  • Still-rising cost of funds (page 14 of the report).
  • Increasing interest income, as earning assets have rolled from lower-return assets to newer, higher-return assets (page 15 of the report).

Despite the gathering economic storm, Utah’s credit unions continue to perform well, with capital ratios increasing, and return on assets remaining higher than broader industry figures.

The report is available on the Association website, at this page: https://utahscreditunions.org/index.php/quarterly-reports/