Credit unions have shown an amazing jump in return on assets from
an industry average of 1.03% in June to 1.36% in the 3rd quarter.
A total of 177 credit unions with assets totaling over $100 billion
have sent their call reports and they can now view all the call
report data on the First Look website.
Callahan & Associates' First Look project is a free service
through CreditUnions.com where credit unions can quickly post and
view their call reports. To participate, you simply need to email
your 5300 Call Report to email@example.com.
So far, 31 of the 62 credit unions with at least $1 billion in assets
have submitted their reports, showing an average ROA of 1.43%. On
top is San Diego County Credit Union ($1.98 billion in assets) with
a pace-setting ROA of 2.37%, and an annual share growth of 21.35%.
Coming in second place is STAR One Credit Union ($2.35 billion in
assets) with an ROA of 2.11%
Through the First Look project, credit unions can see the full
call reports and industry averages for the filing credit unions.
Many credit union executives find the initiative very beneficial
including Roxanne Giffin, CFO of Portland Teachers Credit Union
($1.26 billion). ''On average about 7 or 8 of the 10 credit
unions we compare ourselves against also participate, so through
First Look we can take an early in-depth look at their performance
and where we stand,'' said Giffin.