This graphic from SNL Financial shows highs and lows in credit union aggregate net income since the turn of the century.
Credit unions made more money than ever in 2012, according to SNL Financial.
The Charlottesville, Va., data analysis firm said the industry recorded aggregate net income of $8.6 billion in 2012, a 33.54% jump from the previous year and the most ever in one year.
The numbers showed a sharp increase since 2008, when they hit a net aggregate income loss of 0.15%, SNL Financial said. In 2000, the earliest year the firm reported, the figure was 4.38%.
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Meanwhile, the nation’s largest credit union, the $52 billion Navy Federal recorded asset growth of 11.74% in 2012 and loan and lease growth of 9.84%, SNL Financial said, helped along by its move into participation loans as other credit unions neared their business lending camp.
At the nation’s second largest credit union, the $25 billion State Employees’ Credit Union in North Carolina, assets grew 7.51% in 2012, despite growth in loans and leases of only 0.44% in 2012. Deposits jumped 7.51% in that same period, SNL said, and securities portfolio investments and mortgages helped drive the asset increase, SNL said.
