Leaders In 12-Month Member Growth

Today’s members understand outstanding financial service is merely the beginning of cooperative benefits, and at these credit unions, their ranks are growing.

 
 

In the first half of 2011, credit unions welcomed 510,217 new members into the cooperative community. Annually, credit unions grew membership rosters by 0.59% as of June 2011, bringing the total credit union membership base to 92.3 million. Industry observers expect those numbers to increase as Bank Transfer Day activities drive new members into the credit union market.  

In addition to adding new members, credit unions were also successful at furthering relationships with existing members. The average member relationship (excluding business loans) grew 1.8% year-over-year to $14,774.  On average, members now have 2.35 products with their credit union.

Realtors FCU Ranks No. 1 in Organic Membership Growth

There are currently more than 1,400 state and local real estate associations linked to the National Association of Realtors, which is the core of Realtors Federal Credit Union ($85.4M, Rockville, MD).

“These are the grassroots of the realty community,” says Jane Pannier, CEO. “It can be very advantageous to work with these associations."

“NAR sends of all of its members emails touting the benefits of credit union membership,” says Jesse Boyer, Realtor’s COO.

The credit union is capitalizing on this loyalty and turning those new membership into loans as well. Realtors grew its loan portfolio by 10.66% in the year ending June 2011 bucking its peer group (credit unions $50-100M in assets) decline of -0.57%, according to Callahan & Associates' 2012 Credit Union Directory. Its average member relationship of $17,409 is nearly 18% above the industry average of $14,774.

Below are the Top 20 credit unions with the fastest growing memberships from June 2010-June 2011 according to Callahan & Associates' 2012 Credit Union Directory. Credit unions that grew as a result of a merger or purchase and acquisition have been excluded from the results to highlight those credit unions that grew their membership organically.

Top 20 Credit Unions in 12-Mo. Member Growth
Data as of June 30, 2011 | Credit Unions over $20M in Assets | Excluding Significant Mergers
Rk
Credit Union
St 12-Month
Growth
# of Members Total Assets
1
REALTORS
MD 24.57% 6,916 $85,432,684
2
MERIDIAN
IA 20.67% 2,674 $32,141,190
3
CENTRAL FLORIDA POSTAL
FL 16.06% 7,991 $49,233,910
4
NORTHEAST ARKANSAS
AR 15.99% 19,581 $96,915,257
5
LUFTHANSA EMPLOYEES
NY 15.94% 1,200 $97,660,159
6
CORAL COMMUNITY
FL 15.81% 5,223 $23,548,393
7
MARIN COUNTY
CA 15.63% 4,837 $53,017,350
8
ALLIANCE BLACKSTONE VALLEY
RI 14.82% 3,959 $43,690,674
9
RIVER CITY
TX 14.73% 14,188 $154,383,660
10
BANK-FUND STAFF
DC 14.62% 73,397 $3,140,255,473
11
SCOTT
IL 14.43% 88,160 $754,590,423
12
ELI LILLY
IN 14.42% 55,739 $987,544,054
13
MERCER COUNTY COMMUNITY
PA 14.39% 9,101 $58,936,110
14
DOMINO
TX 14.32% 5,228 $54,087,291
15
FIRST LEGACY COMMUNITY
NC 14.20% 9,971 $46,076,522
16
FIRST GENERAL
MI 14.12% 7,629 $65,067,512
17
GENERAL ELECTRIC
OH 14.11% 90,136 $1,259,875,470
18
PARKS HERITAGE
NY 14.09% 3,773 $20,826,110
19
CONSUMERS
MI 14.00% 43,142 $357,634,486
20
IDAHO CENTRAL
ID 13.70% 98,468 $930,859,219
AVERAGE FOR CREDIT UNION INDUSTRY
0.59% 12,485 $129,265,879

For the complete Top 50, see Callahan & Associates' 2012 Credit Union Directory

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Nov. 14, 2011


Comments

 
 
 
  • Georgia has a very strong credit union

    and has not had a loss in many years.

    Check out Georgia United Credit Union

    on the NCUA data.
    Anonymous
     
     
     
  • I wish the article would have mentioned profitability. I looked up the #1 credit union from this list on the NCUA website. According the NCUA data, this #1 ranked credit union in Maryland lost 25% of its undivided earnings within that same 12 month period.
    Credit Union Member
     
     
     
  • It's wonderful we are seeing growth but the figures do not give reason for such a build-up as indicated in this prose. Yes, 6916 increase in membership is wonderful but when you consider the membership base-potential being 1.6 million of a like minded group that's not as good as it could have been - especially when I see Central Idaho CU with a growth of 96,000+ members and 930.8+ Millions in deposits over the same period of time. And the population of the entire state of Idaho is also approx. 1.6 million peoples.

    Since its inception I think I've received one direct invitation (US Postal or E-Mail) from our Realtor CU to become a member.

    Daniel Kennedy

    retired VP/GM marketing and advertising newspaper profession

    Past President Tribune (newspaper) CU Tacoma, WA

    206-501-5639

    Now, Proud to be a Realtor
    Daniel Kennedy
     
     
     
  • I am a former NAR member and would like to know if I can open an account through your credit union? I have had my money that was due me from family and from other investments stolen and need to keep my new account safe.
    Rose Ann Sinclair
     
     
     
  • This is an unprecedented opportunity for the Credit Union Movement to grow. I would be curious to see membership grow with members under 35 years old and how that compares to the entire financial services industry. And also what estimated attrition rates are too. Good article.
    E.J. Donaghey