Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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.

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

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

  • Critical CUTimes.com 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 Law.com and GlobeSt.com.

Already have an account?

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 TreasuryandRisk.com and Law.com.

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

Copyright © 2022 ALM Global, LLC. All Rights Reserved.