CU net income, insured shares and deposits rise

The National Credit Union Administration (NCUA) has reported federally insured credit unions reported net income growth of $11.9 billion in the second quarter of 2021, or 126.8 percent, over the same period one year ago. The increase in net income largely resulted from strong growth in other operating income and a decline in the provisioning for loan, lease, and credit loss expenses. Insured shares and deposits rose $196 billion, or 14.2 percent, to $1.58 trillion when compared to the second quarter of 2020.