person struggles to fight against and economic storm Source: Shutterstock.

Teachers Federal Credit Union’s slow march toward becoming a national credit union hit a speed bump with the COVID-19 pandemic, and now it approaches the likelihood of a recession next year.

But Teachers ($9.2 billion in assets, 444,027 members as of Sept. 30) would enter a recession healthy. The credit union generated $58.7 million in net income in the nine months ending Sept. 30 for an annualized return of 0.87% of its average assets, down from ROA of 1.03% a year earlier. Those results were in line with the ROA for all credit unions.

Jim DuPlessis

A journalist for decades.

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