Chart showing the drop in non-fee income for credit unions dropped in the first quarter of 2022.

A slump in non-fee income caused first-quarter earnings to fall for the 10 largest credit unions.

Together they generated net income of $903.8 million in the three months ending March 31, or an annualized return of 0.95% of average assets. That’s down from 1.43% ROA in 2021’s first quarter.

CU Times regularly tracks Top 10 results because they account for 18% of the credit union movement’s assets and members, and provide an early indication of results for all credit unions. Callahan & Associates will release their estimates for all credit unions at their Trendwatch webinar on May 18, and the NCUA will post its universe of data in early June.

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Jim DuPlessis

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