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The second quarter's improvement in earnings came with fewer big losses, and a closer look at the big losses that occurred for credit unions provides some hope for further improvement — if the Fed begins cutting interest rates this year.
First, the largest credit union loss appears to be an outlier (or at least not a product of economic conditions). It came from the relatively small Creighton Federal Credit Union of Omaha, Neb. ($66.9 million in assets, 9829 members), which lost $13.5 million in the three months ending June 30, including an unexplained $12.5 "Miscellaneous Non-Interest Expense" in its NCUA call report that CU Times reported on earlier.
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