Jan. 1, 2007


Comments

 
 
 
  • Overall very informative article. However, the percentages of non-interest income cited for Wings FCU are skewed by the fact that they incurred a $1.2M loss on sale of investments which lowered their overall non-interest income. Look behind the statistics if they seem unusually high. Industry publications do this regularly. The CU Journal in it's 11/29/06 edition listed the top 10 CUs based on their third quarter ROA's. One of the top 10 sold their credit portfolio during the year, and had an ROA of -.92% in 2005 versus their 3.58% annualized ROA as of 9/30/06. Statistics can be deceiving. Wings FCU does have an impressive penetration of their membership with their checking accounts, and the percentage of their non-interest income (adjusted for the $1.2M loss) is stll pretty good, but nowhere near as impressive as your article conveys.
    Anonymous
     
     
     
 
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