Credit Unions Improve Earning and Operating Ratios in 2002

Credit union industry assets grew 14% over the last twelve months. This rapid growth helped lower credit unions' operating expense to average asset ratio 13 basis points. Impressively, though, credit unions generated enough net income, that even with the enlarged average asset denominator, credit unions actually rose their return on average assets to 1.03%. Below are the credit unions over $50 million in assets that led the field in ROA and Operating Expense Ratio.

 
 

Credit union industry assets grew 14% over the last twelve months. This rapid growth helped lower credit unions' operating expense to average asset ratio 13 basis points. Impressively, though, credit unions generated enough net income, that even with the enlarged average asset denominator, credit unions actually rose their return on average assets to 1.03%. Below are the credit unions over $50 million in assets that led the field in ROA and Operating Expense Ratio.

Operating Expense Ratio
Name of
Oper Exp
Oper Exp
Rank
St
Credit Union
Ave Assets
Growth
assets/employee
Assets
1
IL
United Airlines Employees 0.48% 19.02% $18,881,265 $3,917,862,442
2
AL
Apco Employees 0.58% 2.39% $16,820,488 $933,537,075
3
NJ
Merck Employees 0.59% 13.38% $26,740,066 $788,831,942
4
NY
Lufthansa Emp. 0.62% 0.88% $18,233,919 $63,818,716
5
CT
Connecticut State Employees 0.71% 1.87% $13,350,073 $934,505,117
6
ND
Community 0.74% 1.25% $6,926,690 $103,900,353
7
CA
STAR One 0.76% 9.20% $18,980,871 $2,306,175,835
8
IL
Air Line Pilots Association 0.78% 2.67% $14,427,652 $100,993,564
9
NY
N C P D 0.83% 17.41% $20,176,501 $232,029,766
10
GA
AFLAC 0.85% 15.76% $8,679,537 $82,455,606
11
MT
Whitefish 0.89% 10.35% $8,253,081 $396,147,865
12
OH
Firestone Office 0.92% 3.67% $12,283,671 $184,255,062
13
CA
San Joaquin Power Employees 0.93% -4.83% $15,616,371 $93,698,223
14
CA
Long Beach Firemen S 0.93% 8.27% $10,632,915 $101,012,688
15
TX
El Paso Corporation 0.96% 30.00% $8,868,483 $97,553,311
16
PA
C-b-w Schools 0.99% 9.26% $7,219,190 $68,582,303
17
PA
Pp&l G.o.l.d. 1.00% 6.90% $13,513,059 $74,321,827
18
MA
Polish National 1.02% 0.39% $6,874,570 $292,169,227
19
PA
Utilities Employees 1.03% 16.75% $9,153,210 $494,273,346
20
CA
Caltech Employees 1.03% 10.07% $10,489,594 $534,969,274
21
LA
Coastland 1.04% -0.45% $7,972,462 $59,793,465
22
CA
Long Beach City Employees 1.07% 4.70% $9,158,123 $238,111,194
23
CA
Aerospace 1.09% 2.33% $11,176,828 $201,182,909
24
AL
Railroad 1.09% -1.18% $8,585,391 $81,561,219
25
CA
California State & Fed Emp #20 1.12% 3.10% $7,592,547 $68,332,925
Averages for 25 credit unions: 0.70% 9.86% $14,604,194 $498,003,010
Totals for 25 credit unions: 0.70% 9.86% $14,604,194 $12,450,075,254

Return On Assets
Name of
Net Income
Net Interest
Rank
St
Credit Union
ROA
Growth
Margin
Assets
1
NY
Progressive 4.49% 13.43% 5.60% $240,325,019
2
CA
Nazarene 3.62% 593.72% 4.44% $133,510,638
3
MD
Money One 3.48% 552.66% 3.54% $76,530,927
4
WA
Columbia 3.38% 346.40% 3.96% $493,492,767
5
LA
Aneca 3.30% 73.14% 4.75% $77,607,907
6
TX
Gulf Coast Educators 3.03% 50.81% 4.28% $183,230,071
7
NV
Clark County 2.76% 29.28% 4.78% $324,354,726
8
PA
C-b-w Schools 2.66% 7.61% 3.40% $68,582,303
9
CA
U.F.C.W. Local 1288 2.62% 75.83% 5.08% $87,898,242
10
CA
High Desert 2.61% 308.37% 4.58% $82,656,995
11
MI
United 2.60% 26.36% 4.60% $153,535,632
12
NY
Melrose 2.60% 124.52% 3.75% $601,458,752
13
FL
Florida Commerce 2.59% 66.86% 4.92% $165,907,761
14
DC
Bank-Fund Staff 2.53% 31.38% 3.48% $1,438,391,292
15
AR
Telcoe 2.49% 18.10% 3.34% $130,646,713
16
CA
Evangelical Christian 2.46% 97.15% 5.08% $378,420,626
17
FL
The Credit Union Of Palm Beach 2.43% 362.58% 4.17% $59,397,828
18
FL
Marion County 2.32% 187.26% 5.74% $56,075,976
19
NY
Queens Postal 2.32% -8.20% 3.71% $50,860,611
20
WA
Whatcom Educational 2.28% 31.62% 4.61% $268,624,296
21
CA
San Diego County 2.25% 32.67% 3.90% $1,870,936,929
22
TX
U S A A 2.23% 126.52% 3.50% $191,960,443
23
CA
STAR One 2.22% 89.05% 2.80% $2,306,175,835
24
CA
Vons Employees 2.20% 49.96% 5.05% $197,625,318
25
PA
Allentown Teachers 2.19% 48.94% 3.40% $204,079,861
Averages for 25 credit unions: 2.52% 64.01% 3.77% $393,691,499
Totals for 25 credit unions: 2.52% 64.01% 3.77% $9,842,287,468

 

 

 

 

 

Sept. 16, 2002


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