VIENNA, Va.–The nation’s 10 largest credit unions at year-end 2023 all finished with in the black, with net income at each larger than the assets of many credit unions.
In all, a CUToday.info analysis found the 10 largest credit union in the U.S. represent $412.39 billion in total assets and overall reported $2.852 billion in net income, with Navy Federal a significant outlier.
Here’s a look at how those credit unions performed, according to their year-end 5300s:
- The nation’s largest credit union at $170.8 billion in year-end assets, Navy Federal in Vienna, Va., reported $1.367 billion in net income, with 11.63% capital. The credit union has 13.34 million members.
- In Raleigh, N.C., the $54.5-billion State Employees’ Credit Union has net income of $364.25 million and net worth of 10.33% at year end. SECU has 2.77 million members.
- Pentagon Federal Credit Union, which operates as PenFed, reported $49.54 million in net income and 9.18% net worth for 2023. PenFed closed the year with $34.8 billion in assets and 2.862 million members.
- In Tukwila, Wash., the $29.8-billion BECU closed out the year with $211.3 million in net income and capital of 10.93%. BECU has 1.45 million members.
- SchoolsFirst FCU, in Tustin, Calif., reported $166.8 million in net income and net worth of 10.24%. The $29.2-billion SchoolsFirst FCU has 1.36 million members.
- In Sacramento, Calif., the $21.1-billion The Golden 1 Credit Union posted net income of $141.3 million to go with net worth of 9.26%. The Golden 1 has 1.115 million members.
- America First Credit Union in Riverdale, Utah reported $225.8 million in net income and capital of 11.16%. The $19.34-billion America First CU closed 2023 with 1.37 million members.
- In Sandy, Utah, the $18.5 billion Mountain America Credit Union reported $197 million in net income and capital of 9.32% at year-end. Mountain America has 1.22 million members.
- Chicago-based Alliant Credit Union closed the year with $83.73 million in net income and net worth of 9.56%. The $18.4-billion Alliant has 849.296 members.
- In San Jose, Calif., the $16.84-billion First Technology FCU had year-end net income of $41 million and capital of 9.79%. First Tech has 666,000 members.
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