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Maryland’s Wealth Not Profiting Credit Unions

Maryland is the richest state in the union with a median household income of $70,004, a cool $20,000 above the national average. However, as of June 30 Marylands credit unions reported just 61 basis points worth of profit, well below the national average of 0.86% ROA.

By Candice Reed | Updated on October 31, 2012

Maryland is the richest state in the union with a median household income of $70,004, a cool $20,000 above the national average. However, as of June 30 Maryland’s credit unions reported just 61 basis points worth of profit, well below the national average of 0.86% ROA. 

Other key financial indicators were on par or better than national averages for the second quarter. Nearly three-quarters, 74%, of Maryland credit unions reported positive ROAA and a delinquency rate of 1.2%–both matching the national average–and an impressive 12-month loan growth of 3.6%, above the national average of 3.2%.

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