Credit union delinquency drops 8 basis points at midyear

first_img continue reading » Total delinquency at credit unions was lower at midyear 2018 than it was one year ago. Based on early performance data derived from 5300 filings, Callahan & Associates predicts total delinquency dropped 8 basis points to 0.67% as of June 30, 2018.Although that is 1 basis point higher than the first quarter, delinquency rates this year continue to be the lowest since the Great Recession. In fact, the second quarter rate of 0.67% is a full 1.1 percentage point lower than the high recorded at year-end 2009.The net charge-off rate increased 2 basis points year-over-year to 0.59%. Charge-offs for credit cards was up 32 basis points annually to 2.87%. This is the fourth consecutive year that charge-offs for credit cards has increased, and this quarter’s rate is the highest since year-end 2011. Historically, higher charge-offs in credit cards has led to higher charge-offs in consumer loans compared to mortgages. This quarter is no exception. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more