A North Carolina firm, Glatt Consulting LLC, which tracks financial data, announced Friday it will begin publishing its industry "HealthScores" and one key finding is a noteworthy second quarter drop in overall CU conditions.
"While the credit union community has seen improvement in scores on credit quality, efficiency and expense management, there have been significant declines in earnings and growth which is combining to drive down the aggregate score," said Tom Glatt Jr., head of the Wilmington, N.C., firm.
The latest statistics drawn from the firm's research–covering such areas as capital, asset quality and liquidity–show an overall 2.38% HealthScore ranking in the second quarter, a 1.70% drop from the first quarter and a sharp 6.74% decline from the same period a year ago.
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