Credit cards build dynamic relationships with members. They also require operational expertise and support from various resources. Credit unions have an unprecedented opportunity in credit card lending, but ambition alone won’t make for a successful program. Credit unions that want to unleash the full potential of their portfolio need to understand, among other criteria, growth and risk in today’s environment, bank program pricing and marketing, and cooperative advantages available for leverage. The following 10 credit unions are doing just that and more.
| Leaders in Credit Card Penetration |
| All U.S. Credit Unions $20M+ in Assets | Data as of 4Q 2010 |
| 1 |
AL |
Fort McClellan |
62.07% |
6.28% |
888.38% |
| 2 |
UT |
Alpine |
59.31% |
5.85% |
913.85% |
| 3 |
OH |
School Employees Lorain County |
59.29% |
61.31% |
-3.29% |
| 4 |
VA |
Pentagon |
57.12% |
43.37% |
31.70% |
| 5 |
IL |
Acme Continental |
54.13% |
49.72% |
8.87% |
| 6 |
CA |
Lutheran Credit Union of America |
53.44% |
49.64% |
7.66% |
| 7 |
VA |
Napus |
52.13% |
48.45% |
7.60% |
| 8 |
CA |
San Diego Firefighters |
52.00% |
50.30% |
3.38% |
| 9 |
FL |
Florida Baptist |
51.95% |
52.26% |
-0.59% |
| 10 |
NY |
Utica Gas & Electric Emp |
51.24% |
52.86% |
-3.06% |
| Source: Callahan & Associates' Peer-to-Peer Software. |