On the other hand, there was an increase in the number of credit unions that had net reductions of full-time equivalent jobs from March 31 to June 30. In the first quarter there were two. In the second quarter there were five:

Georgia’s Own Credit Union of Atlanta ($4.3 billion in assets, 241,295 members) had 536 FTEs on June 30, down 142 (-20.9%) from three months earlier, and down 141 (-20.8%) from a year earlier. It earned $6.3 million (0.59% ROA) in the second quarter after earning $6.1 million (0.58%) in the first quarter. Its net worth ratio was 10.48% June 30, down from 10.94% a year earlier and up from 10.43% three months earlier.
Connexus Credit Union of Wausau, Wis. ($3.9 billion in assets, 456,712 members) had 613 FTEs on June 30, down 75 (-10.8%) from three months earlier, and down 121 (-16.5%) from a year earlier. It earned $280,470 (0.03%) in the second quarter after losing $13.8 million (-1.3%) in the first quarter. Its net worth ratio was 7.90% June 30, down from 9.04% a year earlier and up from 7.32% three months earlier.
State Employees’ Credit Union of Raleigh, N.C. ($ 56.2 billion in assets, 2.9 million members) had 8,013 FTEs on June 30, down 92 (-1.1%) from three months earlier, and up 73 (0.90%) from a year earlier. It earned $136.3 million (0.98%) in the second quarter after earning $44.7 million (0.33%) in the first quarter. Its net worth ratio was 10.06% June 30, up from 9.53% a year earlier and up from 9.99% three months earlier.
GECU Federal Credit Union of El Paso, Texas ($4.4 billion in assets, 435,429 members) had 861 FTEs on June 30, down 51 (-5.5%) from three months earlier, and down 71 (-7.6%) from a year earlier. It earned $14.5 million (1.31%) in the second quarter after earning $13.6 million (1.24%) in the first quarter. Its net worth ratio was 12.81% June 30, up from 11.86% a year earlier and up from 12.48% three months earlier.
Michigan State University Federal Credit Union ($8.2 billion in assets, 381,844 members) had 1,375 FTEs on June 30, down 62 (-4.3%) from three months earlier, and up five (+0.3%) from a year earlier. It earned $5.7 million (+0.28%) in the second quarter after losing $1.5 million (-0.07%) in the first quarter. Its net worth ratio was 8.34% June 30, down from 8.91% a year earlier and up from 8.27% three months earlier.

Total full-time equivalents from Callahan’s preliminary data indicated a gain close to 2% from December to March and up about 4% from a year earlier. First-quarter FTEs were also up 4% from a year earlier.

Instant Insights /

Credit Union Earnings Improve Overall in Q2

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