Friday, April 19, 2019

Navy Surpasses $100 Billion in Assets Milestone, as of Q1 2019

Navy Federal Credit Union (Vienna, VA) surpassed the $100 billion threshold.

As of March 31, 2019, the credit union reported $103.2 billion in assets. This is up from almost $97 billion at the end of 2018.

Navy is the first credit union to top $100 billion in assets.

Moreover, Navy reported net income for the first quarter of 2019 of approximately $423.6 million.

Interest income was almost $1.5 billion for the first quarter. Non-interest income was $413.1 million. Operating expenses and dividends were $765.9 million and $207.5 million, respectively.

Review the Statement of Financial Condition.

Review the Statement of Income.

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