Washington credit unions took a hit to capital during the corporate credit union and financial crisis like everyone else, but it hit them harder because they had lower aggregate capital to begin with.
Thankfully, the aptly named Evergreen State credit unions also have ROAA that has remained higher than the national average to help rebuild net worth.
"ROA for Washington credit unions was – and always has been – higher than the national average," said David Bennett, director of public relations for the Northwest Credit Union Association. "However, because of the extremely high priority Washington credit unions place on the 'return to members,' especially in the form of lower rates, higher returns and better service, net worth is lower than average."
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