WEST PALM BEACH, Fla. - Despite the growth in online banking usage, share draft accounts continue to be a popular product among members. The latest data from Callahan & Associates ranking share draft penetration by state shows the top four states have 50% or greater share draft penetration among their members. In the lead, in rank order are Florida (55.69%), Arizona (54.26%), New Hampshire (50.31%), and Washington State (50.10%). States with 40% or greater penetration ranked from fifth to 30th place, including the District of Columbia. Conversely, three states had less than 30% share draft penetration - Kansas (28.29%), Mississippi (27.01%), and Arkansas (21.77%). Mississippi also had the lowest average share draft balance - $4,393.
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From the April-06, 2005 issue of Credit Union Times Magazine • Subscribe!
Share Draft Accounts Still Popular with Members
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