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Analysis

Third-Quarter Results Taper Off for Top 10 Credit Unions

Loan loss provisions start rising back to normal, as interest margins improve.

Chart showing net income for the top 10 credit unions dropped in the third quarter.

The nation’s 10 largest credit unions’ earnings were strong in the third quarter, but not quite as good as the second-quarter record as loan loss provisions once again became an expense.

The Top 10 credit unions earned a collective $1.2 billion in the three months ending Sept. 30, or an annualized 1.38% return on their $360.9 billion in average assets. ROA was down from 1.79% in the second quarter and up from 0.60% in 2020’s third quarter.

One good sign was in net interest margins. They have been falling for federally-insured credit unions since the second quarter of 2019, but they rose slightly for the Top 10 from the second to the third quarter.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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