Bar graph showing that loan production has stalled for the top 10 credit unions during the second quarter of 2022.

The nation’s 10 largest credit unions had better earnings in the second quarter than the first quarter, but they were lower than a year earlier even after removing wild swings in loan loss provisions, a CU Times analysis showed.

The analysis also showed loan production stalling. The Top 10 generated $41.9 billion in loans in the three months that ended June 30, up slightly from the first quarter’s $41.4 billion but down 12% from a year earlier.

“The loan origination figures are noteworthy,” credit union consultant Mike Higgins said. “That’s the canary in the coalmine for economic activity.”

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Jim DuPlessis

A journalist for decades.

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