Credit unions' $47 billion in IRA balances account for almost 10% of the $532 billion in total deposits. While these IRA accounts are not the traditional core deposits, credit unions recognize that key to becoming their members' primary financial institution is the credit union's ability to offer a full array of savings options - not to mention the advantages of having access to long-term deposits. Almost 60% of credit unions offer IRAs to their members, and those credit unions represent 96% of industry assets.
Credit unions that have successfully penetrated their membership with their IRA offerings see a slightly different dynamic in their performance ratios. The table below compares the top 100 credit unions in terms of percentage of their members with IRA accounts to credit union averages.