CU Earnings Set $8.5B Record In 2012
The $8.5 billion earnings total is the highest figure ever for the credit union industry, according to the agency.
Matz said federal credit unions "generated record earnings; assets crossed the $1 trillion mark; and membership grew by more than 2 million. The industry net worth ratio rose to 10.44%, and delinquencies fell again."
She also noted that credit union lending grew by 4.6%, "meaning more people got the loans needed to buy homes, purchase cars, and go to school."
These and other NCUA figures are based on Call Report data submitted to and compiled by the agency for the quarter ending Dec. 31, 2012.
For more on the numbers, and CUNA analysis, watch News Now. For an NCUA release on the credit union stats, click here.