On Thursday, September 2, CUtv hosted a webinar on health savings account (HSA) opportunities for credit unions. Alliant Credit Union ($7.3B, Chicago, IL) presented three reasons it aggressively pursues the HSA business:
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Acquire new SEGs: a robust HSA offering helps “Alliant at Work” business development team open new doors and create SEG opportunities;
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Defend and expand existing SEGs: Need timely, innovative products to remain relevant to SEGs. HSA offering brought in 16,000 new members through RR Donnelley;
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Create cross-sales: HSAs create a natural cross-sell to other products.
Here’s a look at the 20 credit unions with the largest HSA balances at mid-year 2010.
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Credit Unions With The 20 Largest HSA Balances At Mid-Year 2010
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|
1
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CA
|
PATELCO
|
$75,223,244
|
35.27%
|
2.31%
|
$3,649,245,223
|
|
2
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IL
|
ALLIANT
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$31,214,850
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27.91%
|
0.52%
|
$7,288,209,174
|
|
3
|
IN
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TEACHERS
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$16,451,228
|
59.37%
|
0.99%
|
$1,994,224,789
|
|
4
|
PA
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MENNONITE FINANCIAL
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$12,191,871
|
1244.96%
|
11.16%
|
$119,578,115
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|
5
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NC
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STATE EMPLOYEES
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$10,115,545
|
57.06%
|
0.05%
|
$21,038,409,108
|
|
6
|
NJ
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AFFINITY
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$7,720,806
|
40.17%
|
0.46%
|
$1,984,318,373
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|
7
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MI
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LAKE MICHIGAN
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$5,518,757
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82.29%
|
0.33%
|
$1,988,600,609
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|
8
|
CO
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ELEVATIONS
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$5,414,534
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31.70%
|
0.64%
|
$926,471,017
|
|
9
|
CA
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STANFORD
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$5,340,254
|
319.16%
|
0.51%
|
$1,138,389,275
|
|
10
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GA
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COOSA VALLEY
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$5,331,526
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16457.02%
|
4.08%
|
$146,069,836
|
|
11
|
UT
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AMERICA FIRST
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$3,797,191
|
93.03%
|
0.08%
|
$5,018,170,497
|
|
12
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WI
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LANDMARK
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$3,780,314
|
68.33%
|
0.28%
|
$1,500,065,139
|
|
13
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WI
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COVANTAGE
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$3,675,617
|
23.24%
|
0.50%
|
$823,729,481
|
|
14
|
CA
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TECHNOLOGY
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$3,534,923
|
60.57%
|
0.29%
|
$1,396,909,881
|
|
15
|
CO
|
ENT
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$3,496,675
|
50.70%
|
0.14%
|
$3,060,478,517
|
|
16
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NC
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COASTAL
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$3,041,285
|
92.69%
|
0.18%
|
$1,965,638,768
|
|
17
|
OH
|
CODE
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$2,650,723
|
0.00%
|
3.13%
|
$95,889,320
|
|
18
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WI
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COMMUNITY FIRST
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$2,604,343
|
73.81%
|
0.20%
|
$1,410,218,100
|
|
19
|
CT
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CONNEX
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$2,516,972
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19.35%
|
0.81%
|
$375,225,475
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20
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IN
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FINANCE CENTER
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$2,480,317
|
105.61%
|
0.76%
|
$407,506,603
|
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Source: Callahan & Associates' Peer-to-Peer Software
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