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Nevada Still Struggling, but Shows Signs of Recovery

When comparing Nevada credit unions key financial indicators against other states as of June 30, the results arent good. Nevadas 0.40% return on average assets, 2.5% loan delinquency and negative 11% loan growth are among the worst performance numbers in the country. However, compared with two years ago, those numbers...

By Heather Anderson | Updated on August 20, 2012

When comparing Nevada credit unions’ key financial indicators against other states as of June 30, the results aren’t good. Nevada’s 0.40% return on average assets, 2.5% loan delinquency and negative 11% loan growth are among the worst performance numbers in the country. However, compared with two years ago, those numbers are positive proof the recession didn’t permanently tarnish credit unions in the Silver State.

Take the $693 million One Nevada Credit Union, for example. The Las Vegas-based institution reported an ROA of 0.17% as of June 30. That number is a far cry from the previous industry standard of 100 basis points, but as President/CEO Brad Beal said, “At least it’s in the black.”

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