California Tops All States With Over 100 CUSOs

CUSOs have become an important component of many credit unions' efforts to become the primary financial institution for their members and have grown in numbers as a result. As the number of U.S. credit unions has dropped below 10,000, the number of CUSOs has grown to over 750. According to Callahan & Associates' 2003 Directory of Credit Union Cooperatives, the state of California is leading the way with over 100 CUSOs in existence. Other states in the top five include Michigan, New York, Washington and Florida. Rounding out the top 10 are Texas, Indiana, Oregon, Virginia and Minnesota, as the top 10 states account for over 55% of all CUSOs in the U.S.

 
 

CUSOs have become an important component of many credit unions' efforts to become the primary financial institution for their members and have grown in numbers as a result. As the number of U.S. credit unions has dropped below 10,000, the number of CUSOs has grown to over 750. According to Callahan & Associates' 2003 Directory of Credit Union Cooperatives, the state of California is leading the way with over 100 CUSOs in existence. Other states in the top five include Michigan, New York, Washington and Florida. Rounding out the top 10 are Texas, Indiana, Oregon, Virginia and Minnesota, as the top 10 states account for over 55% of all CUSOs in the U.S.

Credit unions don't appear to be slowing down in their efforts to form CUSOs. The state of Texas has seen the highest growth with nearly 40% while California and Michigan have seen 14% and 15% growth respectively in the number of CUSOs formed in the previous 12 months.

 

 

 

May 19, 2003


Comments

 
 
 
  • This article was very informative and as a result will most likely find out more information by consulting the 2003 Directory of Credit Union Cooperatives. Excellent work.
    Anonymous
     
     
     
  • Thanks for your perspective. Interesting observations.
    Anonymous
     
     
     
  • Very interesting and food for thought.
    Anonymous
     
     
     
  • Thanks for the information. Interesting concept for credit unions.
    Anonymous
     
     
     
  • This trend seems to be catching on.
    Anonymous