Rising interest margins allowed the nation's 10 largest credit unions to increase their earnings in the fourth quarter despite falling loan production and rising costs for payroll and loan loss provisions.
The Top 10 credit unions earned $1.1 billion in the three months ending Dec. 31, or an annualized 1.17% of their average assets for the quarter. ROA was up from 1.08% a year earlier and 0.95% in the third quarter.
Loan loss provisions were $770.8 million in the fourth quarter, up from $112.6 million a year earlier and $676.2 million in the third quarter.
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