WASHINGTON – The total number of credit unions with more than $1 billion in assets has reached an all time high of 48, according to a Callahan & Associates analysis of first quarter data. Crediting the sudden surge in assets at the top to the slowdown in the nation’s economy, Callahan & Associates has found that between March 31, 2000 to March 31, 2001 credit union shares shot up 10.8%. “This surprising total is about three times the expected increase in this top asset category of the movement,” said Callahan’s Business Development Vice President Ray Springsteen. “Generally we have three or possibly four credit unions that are new to this category each year. At a time when the economy is faltering, members turn to their credit unions for savings because they see the value in the credit union movement.” The nine latest credit unions to join the billion-dollar club during that period include: Pennsylvania-based Police and Fire FCU; California-based North Island Financial CU; New York-based Bethpage FCU; Colorado-based Bellco CU; Missouri-based Community America CU; Oregon-based Portland Teachers CU; State Employees CU of Maryland; Oklahoma-based Tinker FCU; and California-based Travis CU.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.