Perennials Top The List Of MostProfitable CUs

Register now

WASHINGTON - (03/10/06) -- Like the cherry blossoms that bloomevery spring in the nation's capital the same credit unions seem tocrop up every spring as the most profitable of the year beforeamong credit unions over $25 million in assets. So it was for 2005,with the top three highest return-on-average assets (ROA) reportedby three perennials: Nizari Progressive FCU, Houston, with $1.1million in net income, was most profitable with a 4.0% ROA; secondhighest was Progressive CU, New York City, with $10.3 million innet income and a 3.62% ROA; and third was St. Thomas FCU, theVirgin Islands, with a $918,000 net and a 3.0% ROA, according toCallahan & Associates. After that was South Jersey FCU,Deptford., N.J., $4.1 million net and 2.89%; Rio Grande CU,Albuquerque, N.M., $2.1 million and 2.77%; Katahdin FCU,Millinocket, Me., $1.7 million and 2.72%; Memorial Hermann CU,Houston, $812,000 and 2.63%; Golden Key FCU, El Paso, Texas, $1million and 2.62%; First South CU, Bartlett, Tenn., $7.1 millionand 2.59%; and Bay Gulf FCU, Tampa, Fla., $4.6 million and2.56%.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER