2018 Financial Stability Report

Figure 26: Credit Unions Loans

Total assets for the sector increased by 11.7 per cent to EC$4.1b in 2018, up from EC$3.6b in 2017. However, for 2018, the growth in assets is 0.7 percentage points lower than the growth rate (12.4 per cent) reported for 2017 ( Figure 25).

0.0 0.5 1.0 1.5 2.0 2.5 3.0

200.0

150.0

100.0

50.0

0.0

Per cent (%)

EC$Billions

-50.0

2015 2016 2017 2018

Figure 25: Credit Unions Total Assets

Loans

Other Assets

Loan Growth

Other Assets Growth

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5

10.0 12.0 14.0

*Source: Single Regulatory Units in the ECCU

- 2.0 4.0 6.0 8.0

The increase in loans was due to growth in mortgage and non-mortgage loans. Mortgages rose by 6.3 per cent (EC$72.2m) in 2018 to EC$1.2b in 2018, decelerating from a 9.4 per cent or EC$98.2m increase in 2017. Conversely, non-mortgage loans, increased by 5.9 per cent (EC$81.5m) to EC$1.5b in 2018; down from a 13.1 per cent or EC$164.5m increase at the end of 2017 (Figure 27). For 2018, mortgages accounted for 45.2 per cent of the total consolidated loan portfolio of the credit union sector. This was slightly higher than the 45.1 per cent reported at the end of 2017.

Per cent (%)

EC$ Billions

2015 2016 2017 2018

Total Assets

Asset Growth Rate

*Source: Single Regulatory Units in the ECCU

Loans, which occupied 66.7 per cent of the total assets of the sector for 2018, increased by 6.1 per cent to EC$2.7b while non-loan assets rose by 24.9 per cent to EC$1.4b (Figure 26).

Financial Stability Report 2018

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