A majority of Massachusetts credit unions had double-digit loan growth last year, but the state’s credit unions continued to see one of the lowest returns on average assets in the U.S., according to data released this month by the National Credit Union Administration.
While nearly three-quarters of Massachusetts credit unions have positive net income, they continue to see one of the lowest returns on average assets in the U.S., new data shows.
While a majority of Massachusetts credit unions had positive net income in the first half of 2022, the state’s credit unions had one of the lowest returns on average assets in the U.S., according to data released last week by the National Credit Union Administration.
While most Massachusetts credit unions had positive net income in the first quarter, the state’s credit unions continued to lose members at a higher rate than most other states, according to data released this week by the National Credit Union Administration.
Massachusetts has at least six planned or recently completed credit union mergers this year, with some of the state’s smallest institutions continuing to seek out combinations.
Massachusetts had fewer credit unions with positive net income in 2021 compared to the previous year, according to data released last week by the National Credit Union Administration.
While most Massachusetts credit unions had positive net income in the first quarter, they continued to lose members at a higher rate than credit unions in most other states, according to data released Friday by the National Credit Union Administration.
While most Massachusetts credit unions had positive net income in 2020, the state’s credit union membership declined at one of the highest rates in the U.S., according to data released last week by the National Credit Union Administration.
Community bank and credit union trade groups have been monitoring the recently discovered cyberattack on the U.S. government and businesses as questions remain about the extent of the attack on the financial industry.
Most Massachusetts credit unions had positive net income during the first quarter despite the start of the coronavirus pandemic, according to data released by the National Credit Union Administration.
The United States Supreme Court declined on Monday to review a lawsuit by the American Bankers Association against the National Credit Union Administration, upholding a 2016 rule change affecting field of membership.
The federal financial regulatory agencies are encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.
Federal and state regulators are encouraging financial institutions to meet the needs of customers affected by the coronavirus, indicating that examiners would not hold these efforts against banks and credit unions.
The industry has long been a vocal critic of the corporate tax exemption that credit unions enjoy, as well as what some might call an overreach when it comes to credit unions’ field of membership expansions and some of the services they provide.
It’s not often that the effects of a federal court decision can be immediately seen at the local level.
