Six Credit Unions Enter, Two Leave Billion Dollar Asset Group

Since we started categorizing credit unions with over $1 billion in assets in their own asset group, the number has jumped up from 82 to 94 credit unions as of Sept. 30, 2004. Find out which credit unions have moved in and out of this group over the past quarter.

 
 

At Sept. 30, 2004, the total number of credit unions with at least $1 billion in assets increased to 94 from 90 in the second quarter of 2004. During this time, six credit unions increased their asset size to over $1billion. At the same time, Georgia Telco Credit Union in Atlanta and California Credit Union in Glendale had their assets decline below $1 billion, dropping into the $250 million to $1 billion asset group.

Despite this shift in credit unions in the billion dollar group, the average credit union size for this group only decreased slightly from $2.22 billion to $2.21 billion. Return on Assets ROA for this group increased from 1.11% last quarter to 1.14% at the end of the third quarter, well above the 0.95% industry average. These credit unions also experienced loan growth of 14.20% and share growth of 7.58% over the past year. The following chart lists the six new members of the billion dollar group.

State
Credit Union
Assets at 9/30/04
Assets at 6/30/04
President/CEO
NC Allegacy
$1,031,997,865
$986,379,312
Ike Keener
SC Founders
$1,018,703,906
$994,228,487
Bruce Brumfield
MS Keesler
$1,004,677,164
$983,640,993
Scotty Broome
CA Premier America
$1,012,139,727
$986,404,969
John Merlo
SC South Carolina
$1,023,140,325
$994,649,544
Scott Woods
OH
Wright-Patt Credit Union Inc.
$1,002,763,438
$991,262,460
Doug Fecher
   
Source: Callahan & Associates
 

 

 

Jan. 10, 2005


Comments

 
 
 
  • The last sentence in the first paragraph does not make sense.
    Anonymous
     
     
     
  • It is always good to hear growth from our neighboring CU's. I hope they continue to grow in a positive ways. Thanks, Tom A.
    Anonymous
     
     
     
  • I'd like to see more stats for the under 20 million CU's :). But I'm selfish.
    Anonymous