Washington: Evergreen State Credit Unions’ ROAA Lives Up to Nickname
Washington credit unions took a hit to capital during the corporate credit union and financial crisis like everyone else, but it hit them harder because they had lower aggregate capital to begin with.
Thankfully, the aptly named Evergreen State credit unions also have ROAA that has remained higher than the national average to help rebuild net worth.
In Vancouver, Wash., iQ Credit Union, with assets of $476 million, serves many of those in education who lost their jobs, and it shows in the credit union’s 0.74% ROAA as of June 30.
“There are a lot of things that are bringing about this number,” said iQ President/CEO Roger Michaelis, “including school cutbacks, teacher retirements and budget shortfalls.”