I read an article about a credit union recently in which the CEO proudly noted a near-prime (ahem, subprime) lending program was responsible for generating an ROA of 2.93%. I read another article where a credit union CEO commented his ROA was 2.22%.
I was confused. Surely, no member-focused entity would produce profit-mongering returns like that. I re-read both articles, just to make sure the information was correct. Unfortunately, it was.
Producing an ROA like what was mentioned in the articles is not a badge of honor, it is a shameful scarlet letter.
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