The credit card market is an unpredictable environment. According to one consumer credit report, even with the recession’s loosening grip, consumers might be less likely to rely on credit cards to avoid accruing debt. Still, some folks need the funding to make ends meet.
Credit cards can be a valuable product. Members use them to bridge gaps between paychecks and make emergency purchases. For credit unions, the plastic rectangles strengthen relationships with memebrs and diversify loan portfolios.
School Employees Lorain County Credit Union ($133.9M, Elyria, OH) sets the pace with 59.3% penetration. Looking at numbers as a whole, two things stand out: All 10 leaders have penetration greater than 50%, and all of the average balances (with the exception of Acme Continental’s $3,147) are less than $2,000.
|
Leaders In Credit Card Penetration |
|
For U.S. Credit Unions $20M+ in Assets | Data as of December 31, 2010 |
|
1 |
OH |
School Employees Lorain County |
59.29% |
17.67% |
$1,763 |
-0.90% |
$12,275,293 |
$133.9M |
|
2 |
CA |
Pentagon |
57.12% |
11.42% |
$2,579 |
-2.37% |
$1,476,708,876 |
$14.9B |
|
3 |
CA |
Acme Continental |
54.13% |
46.43% |
$3,147 |
-0.23% |
$11.955,453 |
$45.9M |
|
4 |
CA |
Lutheran Credit Union of America |
53.44% |
6.56% |
$1,027 |
-0.47% |
$987,932 |
$27.5M |
|
5 |
IL |
NAPUS |
52.13% |
16.70% |
$1,983 |
11.97% |
$36,196,687 |
$271.6M |
|
6 |
VA |
San Diego Firefighters |
52.00% |
7.89% |
$1,794 |
-1.16% |
$3,294,468 |
$77.6M |
|
7 |
NY |
Florida Baptist |
51.95% |
10.36% |
$857 |
6.01% |
$1,202,093 |
$24.3M |
|
8 |
TX |
Utica Gas & Electric Empl. |
51.24% |
9.39% |
$1,367 |
9.69% |
$1,785,351 |
$43.3M |
|
9 |
FL |
Entrust |
50.99% |
29.39% |
$1,801 |
3.22% |
$8,842,848 |
$68.4M |
|
10 |
VA |
O.A.S. Staff |
50.95% |
5.22% |
$1,402 |
2.51% |
$4,057,161 |
$148.0M |
|
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