Monday, April 6, 2020

89 Percent of CUs Profitable During 2019

The National Credit Union Administration reported that 89 percent of federally-insured credit unions reported positive net income during 2019.

All credit unions with at least $1 billion in assets were profitable during 2019.

The following table shows the number and percent of credit unions that were profitable for 2019 by asset size group. There is an inverse relationship between asset size and the percent of credit unions by asset size group reporting positive net income.

The median return on average assets reached 60 basis points during 2019, up 4 basis points from a year earlier.

However, it is likely that the economic disruptions arising from COVID-19 will adversely impact the industry's profitability for this year.

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