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