Twelve years ago, President Clinton signed into law the Credit Union Membership Access Act (HR 1151). Today, virtually anyone in the United States can belong to a credit union. Over the past year, credit unions grew 0.8%, adding more than 700,000 new members to their rolls. With a member growth rate of 3.98%, the billion dollar credit unions grew faster than any other asset-based peer group.
Below are the 20 credit unions that are most successful at growing their membership over a sustained period of time. This leader table shows the five-year compound growth rate (CAGR) for credit unions without a significant merger during that time period. The leaders range from $20.9 million to more than $2 billion.
Five Year Membership Growth Leaders
|
| CAGR June 2005 - June 2010 | Credit Unions $20M+ in Assets (excluding significant mergers) |
|
1
|
MENNONITE FINANCIAL
|
PA
|
13.63%
|
15,616
|
$119,578,115
|
|
2
|
WV UNITED
|
WV
|
13.21%
|
4,717
|
$25,456,316
|
|
3
|
BREWTON MILL
|
AL
|
12.96%
|
1,968
|
$20,359,476
|
|
4
|
UNIVERSITY OF IOWA COMMUNITY
|
IA
|
12.54%
|
69,272
|
$986,708,415
|
|
5
|
WESC
|
WY
|
12.38%
|
2,719
|
$23,586,765
|
|
6
|
PLATINUM
|
GA
|
11.83%
|
5,306
|
$28,469,324
|
|
7
|
POTLATCH NO 1
|
ID
|
11.69%
|
48,577
|
$425,452,429
|
|
8
|
EASTMAN
|
TN
|
10.85%
|
116,658
|
$2,301,501,612
|
|
9
|
SOUTHEAST FINANCIAL
|
TN
|
10.84%
|
60,806
|
$412,107,657
|
|
10
|
DAWSON CO-OP
|
MN
|
10.78%
|
4,663
|
$97,701,996
|
|
11
|
TELCO
|
NC
|
10.68%
|
11,836
|
$59,327,468
|
|
12
|
SAN PATRICIO COUNTY TEACHERS
|
TX
|
10.60%
|
3,141
|
$21,926,580
|
|
13
|
TEXASGULF
|
TX
|
10.53%
|
7,690
|
$46,789,440
|
|
14
|
IAM COMMUNITY
|
AL
|
10.53%
|
5,250
|
$33,386,696
|
|
15
|
WHATCOM EDUCATIONAL
|
WA
|
10.52%
|
62,673
|
$687,470,571
|
|
16
|
FAMILY TRUST
|
SC
|
10.46%
|
40,197
|
$242,305,266
|
|
17
|
LEOMINSTER
|
MA
|
10.34%
|
50,045
|
$577,858,749
|
|
18
|
NAVY ARMY
|
TX
|
10.27%
|
78,430
|
$1,033,690,935
|
|
19
|
DOW LOUISIANA
|
LA
|
9.91%
|
22,515
|
$217,568,422
|
|
20
|
ARTESIA
|
NM
|
9.91%
|
6,184
|
$70,202,310
|
|
Source: Callahan & Associates’ 2011 Credit Union Directory (order today).
|