How successful a credit union is at earning money has an effect on its safety and soundness. Earnings can be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in times of trouble. However, credit unions that are losing money have less ability to do those things.
LOCAL 229 IBEW scored 12 out of a possible 30 on Bankrate's test of earnings, beating out the national average of 10.11.
One sign that LOCAL 229 IBEW is beating its peers in this area was its earnings ratio of 0.00 percent in our test, better than the average for all credit unions.