Kentucky Credit Unions Are in the Green
The key financial indicators of Kentucky credit unions are positive, yet conservative. And that’s just how they like it in the Bluegrass State.
“Kentucky is a fairly conservative state, so we don’t typically get the real high highs or the low lows you see in most economic cycles and that’s kind of the case here,” said Kentucky Credit Union League President Wendell Lyons, speaking about Kentucky’s statewide average of 0.80% delinquency.
“When you look at the larger credit unions, Fort Knox, for example, which has $1.1 billion in assets and a very strong ROA, that begins to pull the average up for everybody. We still have 26% who are struggling with earnings,” he added.
Struggling credit unions tend to be smaller, Lyons said, although Kentucky has plenty of relatively small credit unions like Greater Kentucky that are doing well.