Altogether, their annualized return on average assets was 0.90% in the first quarter, down from 1.41% ROA a year earlier. Total originations were $40.7 billion, up 3.7%, while residential real estate originations were $20.7 billion, up 26.2%. First-mortgage sales were $7.7 billion, up 3.7%.

Among all 5,007 credit unions, NCUA data released Tuesday showed their first-quarter ROA was 0.87%, down from 1.04% a year earlier. Total originations were $192.3 billion, up 6.5%, while residential real estate originations were $73.3 billion, down 3.1%. First-mortgage sales were $17.6 billion, down 40.9%.

Credit unions with the largest residential real estate originations in the first quarter were:

1. PenFed Credit Union of Tysons, Va. ($35.4 billion, 2.7 million members) had first-quarter ROA of 0.90%, up 6 bps. Total originations were $11.6 billion, up 126%, while residential real estate originations were $6.6 billion, up 120%. It was by far the nation's leader in first-mortgage sales on the secondary market, which were $4.4 billion, up 89%.

2. Navy Federal Credit Union of Vienna, Va. ($160.4 billion, 11.4 million members) had first-quarter ROA of 1.05%, down 74 bps. Total originations were $12.5 billion, down 35.6%, while residential real estate originations were $5.6 billion, down 5.9%. First-mortgage sales were $1.9 billion, down 17%.

3. State Employees' Credit Union of Raleigh, N.C. ($53.1 billion, 2.7 million members) had first-quarter ROA of 1.09%, up 1 bps. Total originations were $3.7 billion, up 65.4%, while residential real estate originations were $2.2 billion, up 111%. As its practice, it had no first-mortgage sales in either period.

4. Idaho Central Credit Union of Chubbuck, Idaho ($8.7 billion, 501,092 members) had first-quarter ROA of 0.79%, down 99 bps. Total originations were $1.5 billion, up 6.4%, while residential real estate originations were $1.1 billion, up 16.5%. First-mortgage sales were $268.7 million, down 37.7%.

5. Mountain America Federal Credit Union of Salt Lake City ($14.6 billion, 1.1 million members) had first-quarter ROA of 1.59%, down 2 bps. Total originations were $2.2 billion, down 4.8%, while residential real estate originations were $1 billion, up 65.1%. First-mortgage sales were $79.6 million, down 83.7%.

6. Lake Michigan Credit Union of Grand Rapids, Mich. ($12.1 billion, 437,602 members) had first-quarter ROA of 1.33%, down 87 bps. Total originations were $1.4 billion, down 31.3%, while residential real estate originations were $1 billion, down 37.9%. First-mortgage sales were $515.1 million, down 21.5%.

7. BECU of Tukwila, Wash. ($30.4 billion, 1.4 million members) had first-quarter ROA of 0.01%, down 117 bps. Total originations were $2.8 billion, up 18.8%, while residential real estate originations were $877.7 million, up 17.7%. First-mortgage sales were $221.9 million, down 51%.

8. First Technology Federal Credit Union of San Jose, Calif. ($15 billion, 629,940 members) had first-quarter ROA of 0.30%, down 124 bps. Total originations were $1.5 billion, up 13.3%, while residential real estate originations were $853.6 million, down 7.6%. First-mortgage sales were $192.1 million, down 55.5%.

9. SchoolsFirst Federal Credit Union of Santa Ana, Calif. ($27.9 billion, 1.2 million members) had first-quarter ROA of 0.62%, down 6 bps. Total originations were $1.9 billion, up 19.6%, while residential real estate originations were $830.6 million, down 13.9%. First-mortgage sales were $148,000, down $183.2 million in 2021′s first quarter.

10. Golden 1 Credit Union of Sacramento, Calif. ($18.6 billion, 1.1 million members) had first-quarter ROA of 0.68%, up 4 bps. Total originations were $1.6 billion, up 8.2%, while residential real estate originations were $656.5 million, up 4.8%. First-mortgage sales were $54.7 million, down 40%.