This week, we look at leaders in loan originations — not in total volume, but by employee. This productivity measure can help credit unions assess whether they are efficient in their deployment of human resources toward loan production.
The industry average for originations per employee is $468,042; however, the top 10% of credit unions exceed $545,000 in originations per employee. Only the top 1% of performers originated more than $1 million in loans per employee for the first six months of 2010.
Credit union business models have a notable affect on these results. Three of the top five credit unions (Progressive, Melrose, and Montauk) focus on taxi medallions, which yield high average dollar loans. However, coming in at No. 3 is Fresno Police, which has the highest concentration of its loans in auto lending, while Pentagon, at No. 5, has almost 70% of its portfolio in real estate.
|
Leaders In Year-To-Date Loan Originations Per Employee
|
| For all U.S. Credit Unions Over $20M In Assets | Data as of June 30, 2010 |
|
1
|
PROGRESSIVE
|
NY
|
$10,746,951
|
22
|
$558,151,694
|
|
2
|
MELROSE
|
NY
|
$6,790,419
|
63
|
$1,193,738,817
|
|
3
|
FRESNO POLICE DEPT
|
CA
|
$3,656,061
|
7
|
$29,897,407
|
|
4
|
MONTAUK
|
NY
|
$3,288,011
|
7
|
$106,323,566
|
|
5
|
PENTAGON
|
VA
|
$3,057,918
|
1,156
|
$12,841,341,646
|
|
6
|
CALIFORNIA LITHUANIAN
|
CA
|
$3,006,956
|
3
|
$43,228,530
|
|
7
|
LOMTO
|
NY
|
$2,980,799
|
22
|
$161,076,523
|
|
8
|
STAR ONE
|
CA
|
$2,940,695
|
164
|
$2,222,057,545
|
|
9
|
DAWSON CO-OP
|
MN
|
$2,522,114
|
17
|
$75,314,126
|
|
10
|
SAN JOAQUIN POWER EMPL
|
CA
|
$2,261,035
|
6
|
$90,955,097
|
|
11
|
ADVANCIAL
|
TX
|
$2,130,644
|
148
|
$644,669,142
|
|
12
|
SM
|
KS
|
$1,954,138
|
4
|
$45,416,006
|
|
13
|
MECE
|
MO
|
$1,828,803
|
12
|
$69,662,182
|
|
14
|
HOMETOWN
|
ND
|
$1,805,153
|
13
|
$47,863,323
|
|
15
|
BECU
|
WA
|
$1,790,929
|
964
|
$6,807,260,944
|
|
16
|
WORKMENS CIRCLE
|
GA
|
$1,690,223
|
3
|
$31,952,282
|
|
17
|
GENERAL ELECTRIC
|
OH
|
$1,626,380
|
127
|
$909,198,520
|
|
18
|
USC
|
CA
|
$1,614,854
|
73
|
$247,805,338
|
|
19
|
SOUTHERN
|
TX
|
$1,597,726
|
7
|
$33,978,994
|
|
20
|
THE ARCHER COOPERATIVE
|
NE
|
$1,557,765
|
19
|
$51,939,052
|
| Source: Callahan & Associates’ 2011 Credit Union Directory (pre-order today). |