The Best of the Best: A Look at the Top Ten Credit Unions

Results are in for the top ten! Take a look at what factors were driving their performance in the first quarter, and see how your credit union compares.

 
 

During the first quarter of 2005, the top ten credit union in the United States reported total assets of $77.4 billion dollars, representing more than 10% of the credit union industry's assets. Shares grew 10%, breaking the $65 billion mark, while the loan portfolio revealed an impressive growth of 16.4% reaching $52.6 million.

Top 10 Credit Unions by Asset Size
March 31, 2005
Rk St Credit Union
($) Total Assets
1
VA Navy 24,206,667,260
2
NC State Employees 12,582,204,864
3
VA Pentagon 7,494,434,824
4
CA The Golden 1 5,596,011,768
5
CA Orange County Teachers 5,457,257,677
6
WA BECU 5,352,203,744
7
FL Suncoast Schools 4,657,989,122
8
IL Alliant 4,429,084,847
9
TX American Airlines 4,016,375,445
10
TX Security Service 3,640,158,666
Source: Callahan & Associates, Inc.

The top ten credit unions generated a growth of 17% in share draft penetration compared to 3.8% for the 9,138 credit unions in the industry. Share certificates grew 15.4% with over half of the funds coming from accounts with maturities of less than one year. Membership growth also saw positive results as the group added nearly 150,000 new members in the past year.

First mortgage real estate loans continued to play a major role, representing 41.4% of the loan portfolio. Auto loans also contributed to the growth momentum of the first quarter showing a 13.4% growth.

The leaders continued to grow their bottom line as total income grew 11.1% while expenses decreased 2.1%. This was reflected in the ROA for this group as the ratio increased to 1.3% from 1.1% last year. Also contributing to this figure, fee income grew 7.8% from March 2004 as these credit unions are finding additional sources of revenue from transactional activities.

Take a closer look at some key ratios for the top ten credit unions in assets:

1 st Quarter 2005

1 st Quarter 2004

12-Month Growth

Assets

$77.4B

$69.8B

10.90%

Shares

$ 65.7B

$59.8B

9.98%

Loans

$52.6B

$45.2B

16.44%

Net Income

$240.2M

$188.3M

27.6%

Fee Income

$112.4M

$104.3M

7.78%

Net Interest Margin

2.58%

2.69%

-11bps

Source: Callahan & Associates, Inc.

For a complete look at the top ten credit unions' financial statement, click here.

Learn more about your credit union's performance through CUAnalyzer.

 

 

 

May 9, 2005


Comments

 
 
 
  • the most interesting change was the 27% jump in net income. Any thots why this is so? c
    Anonymous
     
     
     
  • Reduce the asset size of the credit unions. There are many smaller credit unions that should be listed based on different asset size. What you are stating is big is better and that is not true and is a slap in the face for smaller credit unions.
    Anonymous
     
     
     
  • The math is wrong on the detail sheet
    Anonymous
     
     
     
  • Top ten in terms of what?
    Anonymous
     
     
     
  • Um....top ten not even listed
    Anonymous