A credit union's profitability has an effect on its long-term survivability. A credit union can retain its earnings, increasing its capital buffer, or use them to address problematic loans, potentially making the credit union better able to withstand economic shocks. Obviously, credit unions that are losing money have less ability to do those things.
COVE scored 14 out of a possible 30 on Bankrate's earnings test, better than the national average of 10.11.
COVE had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's beating its peers in this area.