Members drive asset growth and character when it comes to creditunions' size and shape, but the equation differs from one to thenext. One size does not fit all.
|High-earning members can often drive growth more effectively,but there also is strength in numbers. It stands to reason, then,that credit unions with large memberships are also at the upper endof the asset range, but it is not always a direct match.
|According to the NCUA, credit union industry assets totaled $1.1trillion for all federally chartered and federally insured creditunions as of June 30. Those institutions served an aggregate 98million members for the same period. Following are the top 20credit unions, first by assets and then by members.
|
Top 20Credit Unions by Assets
1. NavyFederal Credit Union, Vienna, Va.
|$60.5 billion
|2. State Employees' Credit Union, Raleigh, N.C.
|$28.6 billion
|3. Pentagon Federal Credit Union, Alexandria, Va.
|$18.3 billion
|4. Boeing Employees Credit Union (BECU), Tukwila, Wash.
|$12.5 billion
|5. SchoolsFirst Federal Credit Union, Santa Ana, Calif.
|$10.4 billion
|
6. TheGolden 1 Credit Union, Sacramento, Calif.
$8.5 billion
|7. Alliant Credit Union, Chicago
|$8.1 billion
|8. Security Service Federal Credit Union, San Antonio
|$8 billion
|9. First Technology Federal Credit Union, Mountain View,Calif.
|$6.8 billion
|10. Star One Credit Union, Sunnyvale, Calif.
|$6.7 billion
|
11.San Diego County Credit Union, San Diego
$6.5 billion
|12. America First Federal Credit Union, Riverdale, Utah
|$6.3 billion
|13. Randolph-Brooks Federal Credit Union, Live Oak, Texas
|$6 billion
|14. Suncoast Credit Union, Tampa, Fla.
|$5.8 billion
|15. Bethpage Federal Credit Union, Bethpage, N.Y.
|$5.69 billion
|
16.Digital Federal Credit Union, Marlborough, Mass.
$5.67 billion
|17. American Airlines Federal Credit Union, Ft. Worth, Texas
|$5.66 billion
|18. Alaska USA Federal Credit Union, Anchorage
|$5.6 billion
|19. VyStar Credit Union, Jacksonville, Fla.
|$5.2 billion
|20. CitizensEquity First Credit Union (CEFCU), Peoria, Ill.
|$5 billion
|The top 20 credit unions held aggregate assets of $216.5billion, which represented 19.7% of all industry assets on June 30according to the NCUA. The top 20 also represented just .3% of theindustry's 6,429 credit unions.
|Read more: Credit unions, assets and members…
||In terms of membership, more is definitely better, but it'soften the nature of the credit union's field of membership thatmakes a difference, according to Brian Turner, executive director of the consulting firm MedianAlliance, LLC, based in Plano, Texas.
|“If you're talking about growth you're talking about a creditunion's ability to attract shares and deposits, “ Turner said. “Butnot all members are created equal.”
|Credit unions with broad fields of membership, such as Navy FCU,succeed simply due to sheer numbers, Turner said. But credit unionsthat attract members with higher salaries and more discretionaryincome, such as BECU and First Technology FCU, will also realizegreater asset growth because members have more to deposit to theirshare accounts.
|“Share and deposit growth can directly correlate to members'disposable income,” Turner said. “Generally, the higher the levelof disposable income, the greater the potential for sharegrowth.”
|The top 20 credit unions by membership serve an aggregate 15.5million members, or roughly 16% of the 98 million credit unionmemberships nationwide.
|Following is a list of Top 20 credit unions by membership.
|TOP 20 CREDIT UNIONS BYMEMBERSHIP (Assets ranking in parentheses)
|1. Navy Federal Credit Union, Vienna, Va. (1)
|5.1 million
|
2.State Employees' Credit Union, Raleigh, N.C. (2)
1.9 million
|3. Pentagon Federal Credit Union, Alexandria, Va. (3)
|1.3 million
|4. Security Service Federal Credit Union, San Antonio (8)
|990,172
|5. Boeing Employees Credit Union (BECU), Tukwila, Wash. (4)
|869,718
|
6. The Golden 1Credit Union, Sacramento, Calif. (6)
675,245
|7. America First Federal Credit Union, Riverdale, Utah (12)
|659,395
|8. SchoolsFirst Federal Credit Union, Santa Ana, Calif. (5)
|602,406
|9. Suncoast Credit Union, Tampa, Fla. (14)
|588,818
|10. Alaska USA Federal Credit Union, Anchorage (18)
|505,013
|
11. Randolph-Brooks Federal Credit Union, Live Oak, Texas(13)
479,897
|12. Mountain America Credit Union, West Jordan, Utah (32)
|474,076
|13. VyStar Credit Union, Jacksonville, Fla. (19)
|461,295
|14. Digital Federal Credit Union, Marlborough, Mass. (16)
|446,822
|15. Pennsylvania State Employees Credit Union, Harrisburg, Pa.(25)
|420,211
|
16.First Technology Federal Credit Union, Mountain View, Calif.(9)
373,629
|17. Redstone Federal Credit Union, Huntsville, Ala. (37)
|372,197
|18. ESL Federal Credit Union, Rochester, N.Y. (22)
|326,858
|19. State Employees Federal Credit Union, Albany, N.Y. (46)
|308,912
|20. Desert Schools Federal Credit Union, Phoenix (34)
|308,321
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