A Back to School Look at Top-Performing Educational Credit Unions

With the first day of school approaching for children throughout the United States, we take a look at a group of credit unions that have education as their primary field of membership. Find out why these credit unions aren’t too cool for school.

 
 

With beginning of the school year coinciding with the release of 2nd quarter data, Callahan's decided to examine top-performing, federally-chartered credit unions whose primary field of membership is education-related.

There are approximately 1,000 federally-chartered credit unions who list education as their primary field of membership. As a whole, they tend to outperform the industry when it comes to certain financial performance measures. For instance, ROA for these credit unions is 1.02% compared to 0.92% for the whole industry. They also outpace the industry in loan growth (13.75%), share growth (7.09%) and member growth (3.20%).

Many of these credit unions serve the teachers and other employees of schools and colleges. Others, such as Michigan State University Federal Credit Union, handle the financial services of college students who, in many cases, have never held an account at a financial institution.

Take a look at the top 15 credit unions in this group by assets.

 

 

 

Aug. 30, 2004


Comments

 
 
 
  • This article was concise, well written, and informative.
    Anonymous