A Memorial Day Recognition of Military Credit Unions

For nearly 75 years, military credit unions have thrived by serving members at home and abroad. Here's a quick look at the recent performance of this important segment.

 
 

The military community has been a staple of credit union membership since 1st Credit Union chartered in 1928. While the credit union movement gained momentum, many more credit unions focused on serving the men and women who serve our country emerged, including the largest credit union in the world, Navy Federal. Fifteen credit unions with a military field of membership reported to Callahan's First Look, and their First Look numbers show these credit unions still thrive in the industry.

These military credit unions continue to grow, expanding their membership by 4.6% over the last twelve months. Their balance sheet grew as well. Over the last year they grew their loan and share portfolios 11.1% and 17.6% respectively and total assets 17.7%.

"Our military members are typically the most loyal segment of our field of membership. They have the highest services per member of any other membership category and are among the top in average loan balance," said Ray Springsteen, vice president of marketing at Service Credit Union. "We are committed to providing valuable financial services to our military members in Germany and throughout the U.S."

 

 

 

May 27, 2002


Comments

 
 
 
  • I can not believe you left Pentagon Federal Credit Union off this list
    Anonymous