Earnings margins fell for larger credit unions from the second to the third quarter as mortgage originations fell and assets grew strongly, a CU Times analysis found of NCUA data.
The data released Monday showed the nation's 5,095 reporting credit unions (which now stand at 4,990) generated $5.5 billion in net income in the three months ending Sept. 30, or an annualized return of 1.09% of average assets. It was down from 1.16% in the second quarter and up from 0.80% a year ago.
As always, small credit unions had smaller margins than larger ones, but this time small credit unions showed more improvement. CU Times broke them into three roughly equal-sized groups:
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