Location is key in the real estate market – but what about
in the credit union industry? We used the Callahan
2005 Directory to examine the 10 cities with the largest number of primary
locations for credit unions (see chart below).
These 10 cities are home to 7 percent of the nations 9,406 credit unions –
though there is a dramatic difference in the number of credit unions in each
city amongst the top 10. Houston, TX, which ranks first with 94 credit unions,
has nearly twice as many Cleveland, OH, which rounds out the top 10 with 50
There is also a gap between the average asset size of credit unions in the
top 10 cities. Los Angeles, CA, which comes in fifth, has the largest average
assets with $85 million while Pittsburgh, PA, and Cleveland have average assets
of $13.5 and $14.6 million respectively.
Looking deeper into the data, what factors contribute to these cities having
so many credit unions? Two of the cities, Philadelphia and Pittsburgh, are both
located in Pennsylvania – a state which leads nationally for total number of
credit unions. Local field of membership trends have also influenced the predominance
of credit unions in certain cities. The majority of the credit unions in Pittsburgh
were founded by steel companies and their employees. In Cleveland, many credit
unions are affiliated with religious organization. Credit
unions in Washington D.C. typically are associated with government agencies.
City-specific searches like this are useful for networking or finding local contacts. In the 2005 Directory, the manager and personnel indexes can be combined
with the city index to find specific contacts. The Directory Online allows for
city searches and will also populate the name of each credit union’s CEO.
Learn how to leverage information through the 2005
Callahan Directory in an informative and complimentary webinar Nov. 17 at
2 p.m. EST.