Larger Credit Unions Lead National Growth

America's 10,199 credit unions had an incredible year in 2001. Their 14.7% share growth rate was the highest in 15 years, and loans and membership posted solid gains as well. The dynamic year provided further evidence of the strong financial partnership between credit unions and their members.

 
 

America's 10,199 credit unions had an incredible year in 2001. Their 14.7% share growth rate was the highest in 15 years, and loans and membership posted solid gains as well. The dynamic year provided further evidence of the strong financial partnership between credit unions and their members.

While credit unions nationwide took part in the industry's success, with almost 90% experiencing positive share growth during the year, information published in Callahan's 2002 Credit Union Financial Yearbooks reveals that the industry's growth was led by those credit unions over $50 million in assets. These 1,714 credit unions, while accounting for only about 17% of U.S. credit unions, represent over 82% of the industry's assets. Therefore, the industry's performance tends to be determined by these larger institutions.

The leading performance of these credit unions becomes clear when looking at three key growth categories - shares, loans and members. The table below shows that whether the credit unions over $50 million are looked at as one group or broken into the standard asset-based peer groups, they exceeded the national average across all three growth measures. The only exception to this is the loan growth rate of the $50-$100MM peer group.

 

 

 

March 11, 2002


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