Credit Card Penetration

A credit card account can enhance loan portfolios and member relations.

 
 

The mid-2009 birth of the Card Act significantly changed the credit card world. But with the new regulation comes opportunity, and credit unions are now touting their credit cards as a value-added product for members.

The 10 credit unions listed here have successfully portrayed the value in their programs, penetrating existing relationships along the way. An impressive 60.82% of members at School Employees Lorain County Credit Union ($131M, Elyria, OH) have a credit union credit card. For more credit card coverage, click to learn about the penetration statistic or to see what effect rates have on member usage.

Leaders in Credit Card Penetration
Data as of June 30, 2010 | Credit Unions over $20M in Assets
Rk Credit Union St % of Mmbrs w/Credit Card CC Loans/
Total Loans
 Avg. CC Balance  12-Mon. CC Loan Growth Total CC Loans Outstanding Total Assets CDSID
1 SCHOOL EMPLOYEES LORAIN CNTY OH 60.82% 16.92% $1,661 5.41% $11,893,907 $132,558,581 $10,187
2 PIONEER WEST VIRGINIA WV 57.14% 5.26% $1,605 16.15% $3,318,783 $129,524,726 $15,913
3 SAN DIEGO FIREFIGHTERS CA 53.47% 7.60% $1,607 -2.63% $3,021,526 $77,414,267 $1,163
4 ACME CONTINENTAL IL 52.08% 44.40% $3,186 3.57% $11,697,394 $46,861,289 $15,315
5 LUTHERAN CU OF AMERICA CA 52.02% 6.20% $1,025 -1.04% $963,446 $26,347,139 $926
6 SCHLUMBERGER EMPLOYEES TX 51.13% 9.15% $1,458 6.40% $14,415,000 $327,862,191 $13,261
7 UTICA GAS & ELECTRIC EMP NY 51.08% 8.63% $1,227 6.44% $1,589,360 $44,428,463 $9,498
8 FLORIDA BAPTIST FL 49.68% 10.58% $932 3.65% $1,297,628 $24,721,546 $2,231
9 ENTRUST VA 49.15% 27.45% $1,780 5.44% $8,444,606 $66,384,690 $13,784
10 O.A.S. STAFF DC 48.46% 5.23% $1,429 6.41% $3,959,948 $144,195,926 $2,034
Source: Callahan & Associates' 2011 Credit Union Directory

 

 

 

 

Nov. 4, 2010


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