Higher net interest income and lower loan loss provisions allowed credit unions to make a big gain in net income in the third quarter.
NCUA data released Thursday showed the nation's 5,436 federally insured credit unions generated $3.8 billion in net income in the three months that ended Sept. 30, up 39.6% from 2017's third quarter.
That translates into an annualized return on average assets of 1.07%, up from 0.90% for the previous two quarters and 0.81% for 2017's third quarter.
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