Daily At a Glance

Credit union credit card growth outpaced all other finanical institutions in 2006. They are recapturing the card business by providing more trusted value.

 
 

Credit union credit card growth outpaced all other finanical institutions in 2006. They are recapturing the card business
by providing more trusted value.

Average credit card balances for the industry continued to grow in 2006. Over the last five years increased usage by existing cardholders has been the driving force of this growth as the number of active accounts has declined.

Looking at credit card penetration, the industry posted an average of 14.1%. There are credit unions however that have much higher penetration rates. Listed below are the five credit unions with the highest percentage of members using their credit unino's credit card and at least $5M in card balances as of year-end 2006.

Rank State Credit Union Credit Card Penetration

Outstanding
Credit Card Loans

Members Assets
1. IL Acme Continental
58.6%
$10,736,272
6,968
$35,908,534
2. DC Bank-Fund Staff
55.5%
$66,651,481
55,448
$2,166,600,652
3. CA Popa
53.0%
$8,542,778
11,550
$214,561,496
4. TX Schlumberger
50.1%
$12,554,233
15,761
$204,771,256
5. IL Dupage
49.5%
$41,819,034
29,491
$245,718,156
 
 

 

 

Feb. 26, 2007


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