Interest Drives Q3 Gain for Top 10 Credit Unions

The nation’s largest credit unions had a strong increase in third-quarter net income with higher margins from interest and lower provisions for losses.

A CU Times analysis of the latest NCUA call reports shows the top ranked credit unions generated $778.1 million in net income in the three months that ended Sept. 30—20.1% more than they earned in 2017’s third quarter.

One of the strongest gains came from net interest income before subtracting loan loss provisions. This measure rose 14.7% to $2.2 billion, while loan loss provisions fell 3.8% to $475.4 million.

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