Maryland is the richest state in the union, with a median household income of $70,004, a cool $20,000 above the national average.
However, as of June 30 Maryland's credit unions reported just 61 basis points worth of profit, well below the national average of 0.86% ROAA, according to the NCUA's Quarterly U.S. Map Review.
Other key financial indicators were on par or better than national averages for the second quarter, such as 74% of credit unions reporting positive ROAA and a delinquency rate of 1.2% – both matching the national average – and an impressive 12-month loan growth of 3.6%, above the national average of 3.2%.
- SEE the NCUA state-by-state map and more Credit Union Times analysis.
Rob Windsor, CEO of the $953 million First Financial FCU of Lutherville, Md., said he was puzzled by the numbers and tried to put them into perspective.
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