Virginia Tops The Credit Union Charts

Collectively, the credit unions in Virginia rank highest in average return on assets (ROA), share growth, asset growth, and credit card penetration. Find out why this state tops the charts and what the leading 10 states are recording in ROA.

 
 

Many great things came out of the Commonwealth of Virginia: Thomas Jefferson, George Washington, and a number of extremely successful credit unions. Virginia tops the charts in average Return on Assets (1.23%), share growth (11.52%), asset growth (12.44%), and credit cards penetration (24.19%).

These numbers soar above the industry averages for ROA at 0.92%, share growth of 6.09%, asset growth of 6.69%, and 14.78% credit card penetration. So, which Virginia credit unions are topping the charts in ROA?

Below is a ranking of the top 10 Virginia credit unions by ROA.

The Top 10 VA Credit Unions by ROA
Data as of June 30, 2004 for credit unions over $20 million in assets

Rank

St

Name of
Credit Union

ROA

Assets

1

VA

Fort Lee

2.20%

$82,314,041

2

VA

Fort Belvoir

1.96%

$189,378,566

3

VA

Navy PWC NORVA

1.71%

$33,446,025

4

VA

R F & P Richmond

1.67%

$29,646,931

5

VA

URW 831 Members

1.66%

$45,458,683

6

VA

Park View

1.56%

$51,216,697

7

VA

Pentagon

1.51%

$7,070,421,955

8

VA

Dupont Community

1.42%

$446,604,753

9

VA

Navy

1.40%

$21,877,580,931

10

VA

Langley

1.40%

$1,033,864,239

The Dominion state, Virginia dominates the charts with the help of top performers such as Navy FCU ($21.9b) and Pentagon FCU ($7.01b). Not only are these credit unions the first and third largest in assets size in the U.S., they also are exhibiting strong growth in assets. The average asset size for Virginia credit unions at June 2004 was $190.9m, up from $102.1m in June 1999, which is an increase of 87% in the past 5 years. The industry should see these and other large credit unions continue to expand and grow as this trend continues in Virginia as well as the rest of the country.

The states with the highest average ROA are as follows:

The Top 10 States by ROA
Data as of June 30, 2004

State

ROA

Rank

Total
Assets

# CU's

Share
Growth

Rank

Asset
growth

Rank

Virginia

1.23%

1

$43.9b

230

11.52%

1

12.44%

1

South Dakota

1.17%

2

$1.42b

57

5.78%

23

6.94%

18

Arkansas

1.15%

3

$1.53b

73

3.37%

47

3.73%

48

Dist. of Columbia

1.13%

4

$4.8b

66

8.57%

12

8.33%

10

New Mexico

1.08%

5

$4.2b

54

6.01%

21

6.69%

22

Alabama

1.07%

6

$10.1b

165

7.80%

15

6.90%

19

Maryland

1.06%

7

$13.1b

120

6.38%

19

6.80%

21

Nevada

1.06%

8

$4.2b

29

11.42%

2

11.30%

2

New Hampshire

1.03%

9

$3.2b

28

5.60%

24

6.19%

26

California

1.03%

10

$100.5b

582

6.64%

17

7.53%

15

To see how your state compares be sure to buy the 2005 Credit Union Directory. Click here for more information.

Webinar:
Maximizing the Use of Callahan's 2005 Credit Union Directory

Join us November 17 at 2 p.m. for a complimentary webinar that will teach you how to better utilize the cooperative spirit and willingness of the credit union system. Callahan & Associates will show you how to use the total resources available with the directory to help your credit union benchmark, plan, and connect with your peers.
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Nov. 1, 2004


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