The nation's 10 largest credit unions' earnings were strong in the third quarter, but not quite as good as the second-quarter record as loan loss provisions once again became an expense.
The Top 10 credit unions earned a collective $1.2 billion in the three months ending Sept. 30, or an annualized 1.38% return on their $360.9 billion in average assets. ROA was down from 1.79% in the second quarter and up from 0.60% in 2020's third quarter.
One good sign was in net interest margins. They have been falling for federally-insured credit unions since the second quarter of 2019, but they rose slightly for the Top 10 from the second to the third quarter.
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