Thursday, December 20, 2012

2000 Credit Unions Reported a Loss During Q3

According to data from NCUA, 2,000 federally insured credit unions (or 29 percent of the industry) reported a loss during the third quarter of 2012.

A vast majority of the credit unions reporting losses during the third quarter were smaller institutions. The following information shows the number of credit unions posting a loss by asset size group.
  • 989 credit unions with less than $10 million in assets;
  • 703 credit unions with between $10 million and $50 million in assets;
  • 162 credit unions with between $50 million and $100 million in assets;
  • 134 credit unions with between $100 million and $500 million in assets;
  • 8 credit unions with between $500 million and $1 billion in assets; and
  • 4 credit unions with more than $1 billion in assets.
Six credit unions reported third quarter losses in excess of $1 million. Carolina Trust FCU (Myrtle Beach, SC) reported the largest third quarter loss at $3.9 million.

The other credit unions with more than $1 million in losses during the third quarter were:
  • Empower CU (West Allis, WI), loss of almost $3.2 million;
  • Liberty Bay (Baintree, MA), loss of $2.4 million;
  • Southeast Financial Credit Union (Franklin, TN), loss of $1.9 million;
  • Alabama One (Tuscaloosa, AL), loss of $1.3 million; and
  • P E F FCU (Highland Heights, OH), loss of $1.1 million.
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1 comment:

  1. Taylor CU Lobby ManagementDecember 21, 2012 at 11:15 PM

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