Federally insured credit unions earned $2.6 billion in the first six months of the year, down 15% from the year-earlier period, the National Credit Union Administration reported this week.

Keith Peterson, an economist for the Credit Union National Association, attributed the decline to a narrowing spread between interest income and interest paid on deposits.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.