Alabama and Florida credit unions ended 2015 with a record number of assets and loans, while Florida also ended with a record number of members. Credit unions in Alabama ended the year with $20 billion in total assets, which was a 6.2 percent increase year over year. Credit unions in Florida ended the year with more than $54 billion in assets, which is an 8.5 percent increase year over year.
Digging a little deeper into the numbers, credit unions in Alabama saw a 7.3 percent increase in loans year over year. This was a .3 percent gain from the previous year. Credit unions in Alabama currently have more than $9.2 billion in loans to members. On the assets side, credit unions in Alabama saw a 3.3 percent increase from quarter three to quarter four and have now seen positive asset growth in seven of the last nine quarters. The asset growth in the fourth quarter was the largest, quarter over quarter, since the first quarter of 2012.
On the Florida side, credit unions saw a 10.5 percent increase in loans, year over year, to end with more than $34.4 billion in loans. 2015 experienced a slightly lower loan growth, but maintained at least a 10.5 percent growth, year over year, for the year. Credit unions in Florida saw a 2.5 percent asset growth, quarter over quarter, for a fifth straight quarter of positive asset growth. Florida has also seen at least a four percent asset growth, year over year, for seven straight quarters.
Credit unions in Florida enjoyed a five percent membership growth, year over year. This is the fifth straight quarter with over five percent year over year growth. There are now 5.2 million credit union members in Florida. Credit unions in Alabama saw a 1.3 percent year over year growth. The state has seen positive membership growth, year over year, for five straight years. Alabama has 1.9 million credit union members.
The League will push these quarterly numbers out to the media in both states.