Tuesday, May 19, 2020

A Snapshot of Y-o-Y Performance of the 10 Largest CUs

The 10 largest credit unions at the end of 2019 saw in aggregate increases in provisions for loan and lease losses and allowance for loan and lease losses in the first quarter of 2020 compared to a year earlier. Net income at these 10 credit unions in aggregate fell year-over-year.

These 10 credit unions accounted for almost 18 percent of the industry's assets.

In aggregate, provisions for loan and lease losses grew by 47.2 percent Boeing Employees Credit Union posted the largest year-over-year percentage change in provisions for loan and lease losses of almost 389 percent.


Net income fell by a combined 55 percent year-over-year at these 10 credit unions. two credit union reported a year-over-year increase in net income, while two credit unions posted losses in the first quarter of 2020 after posting positive earnings a year earlier. The credit union with the largest year-over-year percentage decline in net income was Alliant Credit Union of 341 percent.


Allowance for loan and lease losses grew year-over-year by a combined 19.5 percent. Alliant CU posted the largest year-over-year percentage change, followed by Pentagon FCU.

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