Leaders In Average Loan Balances (2Q18)

Many credit unions with high loan balances are in pricey areas and serve tightly knit SEGs.

 
 

Helping members achieve home ownership in a high-priced urban market has helped IDB-IIC FCU ($564.2M, Washington, DC) achieve measures of member engagement that put it among the top leaders in loan balances, according to data from Callahan & Associates.

As of June 30, 2018, the District-based cooperative reported an average loan balance of $82,427, which placed it seventh by that measure among all 5,596 U.S. credit unions.

The 10,873-member credit union is owned by members and employees of the Inter-American Development Bank and Inter-American Investment Corp., which provides financing and other support for development in Latin America. As for the credit union, it provides financing and support for members in our nation’s capital.

 

 

 

“Residential lending in the D.C. metropolitan market is our primary loan product,” says IDB-IIC FCU CEO Chip Lusk Jr. “We enable our members to transition from rental housing to home ownership.”

Credit unions like Lusk’s that serve tightly knit SEGs in high-priced housing markets dominate the top of the table for leaders in average loan balances at mid-year. They range in asset size from slightly more than $22 million (Fresno Grangers Federal Credit Union in California and Italo-American Federal Credit Union in New York) to slightly less than $8.8 billion (Star One Credit Union in Silicon Valley).

IDB-IIC FCU holds approximately 90% of its $400 million loan portfolio in mortgage loans. The single-branch credit union also has a much higher average member relationship than do peer credit unions. IDB-IIC FCU reported an average of $78,138 at midyear. By comparison, credit unions with $500 million to $1 billion in assets reported an average of $10,275 and credit unions in the District of Columbia reported an average of $33,396.

“We focus on meeting our members’ needs with excellent service, so they have peace of mind to focus on their careers and families,” Lusk says.

LEADERS IN AVERAGE LOAN BALANCE (EXCLUDING BUSINESS LOANS)

FOR U.S. CREDIT UNIONS | DATA AS OF 06.30.18
© Callahan & Associates | www.CreditUnions.com

Rank State Credit Union Average Loan Balance Total Loans Outstanding Assets
1 CA California Lithuanian $245,023 $77,694,505 $121,414,639
2 NY Italo-American $191,287 $16,650,601 $22,565,917
3 NY Self Reliance New York $108,875 $703,474,506 $1,337,649,037
4 CA Long Beach Firemen's $100,714 $123,906,135 $187,123,696
5 CA Chevron $95,265 $2,714,281,141 $3,337,656,694
6 NY Consumers $82,916 $50,389,543 $61,898,655
7 DC IDB-IIC $82,427 $399,854,435 $564,213,103
8 GA Workmen's Circle Incorporated $80,156 $50,433,713 $68,808,593
9 CA Star One $79,328 $3,912,369,107 $8,790,404,397
10 CA Fresno Grangers $76,611 $11,461,644 $22,537,774

Source: Callahan & Associates.

2017 Callahan & Associates, Inc. All rights reserved

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Nov. 5, 2018


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