Credit-union earnings in 2012 at record levels


A better economy and growing membership helped credit unions generate record earnings in 2012.

Credit unions federally insured by the National Credit Union Administration, which most are, had total net income in 2012 of $8.5 billion, according to a report from the federal agency. The sector had a record year in 2011 with 6,800 NCUA credit unions collectively reporting profits of $6.3 billion.

Total assets surpassed $1 trillion last year, another industry milestone, the NCUA said.