Programs by Asset Size
CUs in Asset Range
throughout the country continued to add investment services at a
brisk pace last year despite the cooling of the economy.
more credit unions offered investment services in 2000 than in 1999,
according to data collected in Callahan & Associates' newly published
Directory of Mutual Fund
and Brokerage Service Providers
end 1,128 credit unions were providing investment programs for their
members, up from 943 credit unions the year before, says Callahan
President Chip Filson. It is clear this remains an area of rapid
growth, expansion and change for credit unions and a very important
assets under management in these off balance sheet credit union
programs are estimated to be $25.9 billion, he said.
More than 81
percent of credit unions with over $250 million in assets now offer
such a program to members, the directory shows. In fact, 88 of the
nation's largest 100 credit unions offer investment services through
a third party, leaving only a dozen that so far do not.
unions in the $100-$250 million asset range, 58 percent now offer
investment services while over 31 percent of the next rank of credit
unions with $50 to $100 million in assets have investment services
available. The directory shows that the number of credit unions
involved in investment services drops quickly the smaller the credit
union. Just 2.2 percent of credit unions in the $5 to $10 million
range have such programs in place.
Nine firms provide
80 percent of the credit union industry's current investment programs
with the largest being Members Financial Services from CUNA Mutual.
The directory includes market share statistics for all the providers
and other data on the rise in credit union investment programs.
is the only resource tracking investment programs in the credit
union industry and all data has been verified by going to both the
credit unions and the third party providers, Filson says. For more
information, call: (800) 446-7453.
Callahan & Associates
is a Washington, DC-based firm specializing in financial publications
and software, strategic planning and investment management for credit
unions for 16 years.