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Credit Unions Plateaued in 4th Quarter, New Data Reveals

Callahan data shows earnings improved, but originations fell slightly from the third quarter.

Chart showing credit union mortgage originations stalling in the fourth quarter of 2020

Credit union earnings improved in the fourth quarter on the strength of a continuing high volume of mortgage originations and lower provisions for loan losses, according to Callahan & Associates.

The Washington, D.C.-based credit union company’s “Trendwatch” report released Thursday showed annualized return on average assets was 0.83% for the three months ending Dec. 31, down from 0.93% in the pre-pandemic fourth quarter of 2019, but up from 0.79% in the third quarter.

Originations stalled in the fourth quarter at a high level. Total originations were $179 billion, 19% higher than in 2019’s fourth quarter but below the five-quarter peak of $184 billion in the third quarter.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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