chart showing earnings for the top 10 credit unions soared during the first quarter of 2021.

The nation’s largest credit unions nearly tripled their earnings margin in the first quarter as loan loss provisions fell back to pre-pandemic levels and cuts in overhead made up for lower income.

A CU Times analysis of NCUA Call Reports filed last week showed the 10 largest credit unions earned $1.2 billion, up from $367.6 million in 2020’s first quarter. Their annualized return on average assets was 1.48%, up from 0.51% a year earlier.

The increase came despite a surge in savings, which contributed to a 12.4% rise in average assets. Loan growth was tepid, with balances rising 4.5% to $201.8 billion.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Jim DuPlessis

A journalist for decades.

More from this author

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.