Chart showing credit union earnings for the first half of 2021 are breaking records.

NCUA data for the second quarter showed the usual disparity in income between large and small credit unions, but it also showed that each broad group is near or surpassing results from before the COVID-19 pandemic.

Net income annualized as a percent of average assets for the three months ending June 30 was a record 1.16%. Callahan & Associates, which has data going back to 2002, showed higher quarterly ROA only twice: 1.97% in 2009’s second quarter as the Great Recession was ending, and in the second quarter of 2002.

ROA improved among all size classes. Credit unions with more than $1 billion exceeded their 2019 peaks, while those with less neared their pre-pandemic peaks.

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Jim DuPlessis

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