Monday, June 29, 2020

NCUA Provides Update on Minority Depository Institution CUs

Minority Depository Institution (MDI) credit unions lagged behind all federally insured credit unions (FICUs) with respect to most performance metrics for 2019 except net worth ratio, according to the National Credit Union Administration (NCUA) 2019 Annual Report to Congress.

The following table looks at select performance metrics for all FICUs versus MDI CUs for 2019


Also, here is some demographic information about MDI CUs.

As of December 31, 2019, there were 514 federally insured credit unions (FICUs) with the MDI designation in 36 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Approximately 10 percent of all FICUs are MDIs.

The number of MDI credit unions declined by 16 between 2018 and 2019, mirroring the general long-term trend of consolidation in the financial services sector.

MDI credit unions tend to be smaller institutions. Eighty-seven percent reported total assets of $100 million or less at the end of 2019. Fifty-seven percent had less than $10 million in assets. The average asset size was $78.86 million.

Additionally, 79 percent of MDI credit unions had a low-income designation.

Read more.

Posted by at
Labels: , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.