For the first time in world history, a credit union has surpassed $100 billion in assets—and it continues to grow at a record pace.
In the process, Navy Federal Credit Union has also entered the “Too Big To Fail” category, according to one economist.
Navy Federal has for decades been a statistical outlier in the U.S. credit union community, and recent years have only seen it continue to sail far ahead of the rest of the CU fleet. Indeed, Navy FCU’s net income during just the first quarter of this year alone exceeded the individual assets of more than 85% of all U.S credit unions.
As of March 31, Navy FCU reported it now has $103.2 billion in assets, up from the nearly $97 billion in assets reported at year-end 2018.
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