Leading into the new year, the credit union system is undergoing significant
change. The credit union industry has grown over $50 billion in assets despite
the fact that there are 435 fewer credit unions this year than last. New peer
groupings in Callahan's 2004
Credit Union Directory reflect the movement's growth, including
the largest segment of the 82 credit unions now over $1 billion in assets.
The $612 billion credit union industry originated $106.4 billion mortgage loans
over the last four quarters and has captured 16.3% of the auto lending market
in the face of 0% financing. This year's largest credit unions in the industry
include Navy Federal (VA), State Employees (NC), and Pentagon (VA). The top
leaders in auto loan penetration include Greenwood (RI), State Farm West Central
(NE), and Worchester Fire Department (MA).