With all the drama in banking these days, if you've been looking at putting your money in a credit union, we've got good news for you. Recent data, and recent ratings, indicate the industry is strong.

The latest credit union data indicates growth in the industry. U.S. credit unions grew aggregate assets 1.1 percent quarter-over-quarter to $1.3 trillion, up 7.9 percent since the second quarter of 2015. Lending played a big role in growing the asset base. Total loans and leases of all credit unions in the country went up 2.3 percent quarter-over-quarter to $834.1 billion and up 10.9 percent year-over-year.

Increases in lending can lead to a higher percentage of non-performing loans, as managing and collecting payments becomes more burdensome for an institution. The national aggregate for non-performing loans as a percentage of total loans remains lower than in the last five years at 0.75 percent, but slightly higher than the 0.71 percent in the first quarter 2016. The trend indicates that non-performing loan levels are managed effectively and with consistency.

Weiss Ratings data also indicates growing strength in credit union safety ratings. Based on second quarter 2016 data analysis, 630 credit unions were upgraded and 467 downgraded. The number of recommended credit unions (those with a safety rating of B+, A-, A, or A+), has grown 14.5 percent over the last two years, from 731 institutions in Q2, 2014, to 837 in Q2, 2016.

As of Q2, 2016, Weiss safety ratings distribution for all U.S. credit unions is as follows.

Overall, credit unions show improvement and stability. Non-performing loans fluctuate slightly but don’t appear to be significantly out of order. Safety ratings continue to improve, suggesting strong performance and stability in the industry. Credit unions may gain additional momentum as additional members may begin to join as they turn away from banks.