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.
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.
Eighteen months into the pandemic, the influx of deposits continues. But many lenders are struggling to match this cash with loan growth, creating concern for the coming quarters.
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.
