7 Facts About Digital Banking At Credit Unions

Learn about industry delivery channel trends, plus see which states lead the nation in branch numbers and check out credit union leaders across several delivery channel metrics.

 
 

As member demand for financial technology increases and branch traffic decreases, credit unions looked to scale back the square footage of branches and placed a greater focus on incorporating technology into daily operations.

Download The 2018 Credit Union Directory

The credit union movement notches another year of strong growth and sound fundamentals, but there’s potential for much more. Use the annual Callahan Credit Union Directory to review past performance as well as look forward to the year ahead.

Download The Directory

Credit unions operated 21,012 branches nationwide as of June 30, 2017, a net increase of 35 branches year-over-year. The credit union membership base expanded 4.3% over time time, to 110.6 million. With membership growth outpacing branch growth, credit unions served 204 more members per branch as of mid-year than in 2016. For second quarter 2017, credit unions served an average of 5,265 members per branch.

As of second quarter 2017, credit unions reported 16,141 ATM locations, down 607 from June 2016. This can be attributed to shared ATM strategies and increased online and mobile initiatives. Credit unions offer convenience through an array of channels outside of ATMs:

  • 77.2% of credit unions reported offering online banking.
  • 56.9% of credit unions reported serving members through mobile banking.
  • 70% of credit unions reported offering e-statements.
  • 64.6% of credit unions reported offering bill pay.
  • 37.3% of credit unions reported offering online new member applications.
  • 51.4% of credit unions reported offering online new loan applications.
  • 36.4% of credit unions reported offering remote deposit capture.

Read on to learn more about industry delivery channel trends and see the credit union leaders in branches, ATMs, members per branch, and online banking penetration. All this data and more is available in Callahans Credit Union Directory. Download your copy today.

Number And Change In Number Of Credit Union Branches

LEADERS IN BRANCH & ATM NETWORK

FOR U.S. CREDIT UNIONS > $20m IN ASSETS | DATA AS OF 06.30.17
© Callahan & Associates | www.creditunions.com
Rank Credit Union State Branches & ATMs* Branches ATMs* Members Per Branch Total Assets
1 Navy VA 592 306 286 23,493 $82,038,635,993
2 State Employees NC 510 258 252 8,725 $36,879,840,265
3 America First UT 251 123 128 7,002 $8,936,450,570
4 Alaska USA AK 171 85 86 7,390 $6,862,725,808
5 The Golden 1 CA 149 75 74 11,667 $11,158,918,497

*ATMs owned by the credit union; as reported by the NCUA.

LEADERS IN MEMBERS PER BRANCH

FOR U.S. CREDIT UNIONS > $20M In Assets* | DATA AS OF 06.30.17
© Callahan & Associates | www.creditunions.com
Rank Credit Union State Members Per Branch Members Branches Members Per FTE Employee** Total Assets
1 America's Christian CA 61,882 123,764 2 1,338 $353,335,573
2 Northwest VA 34,766 243,365 7 497 $3,260,744,967
3 United Nations NY 32,131 128,523 4 240 $4,946,156,154
4 Alliant IL 30,723 368,681 12 783 $9,885,327,304
5 Digital MA 28,853 663,621 23 566 $8,071,182,667

* >$20 Million in assets and 2+ branches

** FTE = Full-Time Equivalent. FTE Employees is calculated as all full-time employees plus 50% of part-time employees.

LEADERS IN ONLINE BANKING PENETRATION

FOR U.S. CREDIT UNIONS > $20m IN ASSETS | DATA AS OF 06.30.17
© Callahan & Associates | www.creditunions.com
Rank Credit Union State Members Using Online Banking (%) Members Using Online Banking (#) Members Total Assets
1 Purdue IN 99.13% 72,427 73,065 $1,098,333,236
2 One Nevada NV 99.09% 78,173 78,888 $874,544,456
3 Schlumberger Employees TX 99.05% 30,775 31,070 $828,195,389
4 First Service TX 98.87% 55,662 56,301 $679,882,394
5 Genesee Valley NY 97.41% 7,856 8,065 $79,519,158
 
 

 

DELIVERY CHANNEL DEPLOYMENT & ONLINE INTERACTION

FOR U.S. CREDIT UNIONS | DATA AS OF 06.30.17

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June 18, 2018


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