Bar chart showing how Navy Federal Credit Union lifted its ROA with loan provisions.

Credit union results look dramatically different this year when loan loss provisions are removed.

That was the case in the second quarter with the nation’s largest credit union, Navy Federal Credit Union of Vienna, Va. ($147.9 billion in assets, 10.6 million members).

For the three months ending June 30, it generated $921.1 million in net income, including a $214.3 million gain as it reeled in part of its loan loss provisions. In 2020’s second quarter, net income was $67.3 million after subtracting a $779.4 million loan loss provision.

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Jim DuPlessis

A journalist for decades.

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