Leaders In PPP Loans As A Percent Of Total Assets

Which credit unions lent the highest percentage of their total assets through the Paycheck Protection Program?

 
 

The credit union industry includes a wide swath of institutions, from large cooperatives with extensive fields of membership to small, narrowly focused shops. Together, the industry serves approximately one-third of Americans — although the scale of service between the largest and smallest credit unions is different.

Since the U.S. Department of Treasury instituted the Paycheck Protection Program on March 27, 2020, 926 credit unions have reported PPP loans. As might be expected, the national leaders in PPP loans funded skewed toward larger institutions, but smaller credit unions also have used the program to put much-needed funds into the hands of local businesses.

The following chart lists the top 25 credit unions in PPP loan funding as a percentage of assets.

 
 

TOP PPP LEADERS BY PERCENTAGE OF ASSETS

FOR U.S. CREDIT UNIONS | DATA AS OF 07.06.20
© Callahan & Associates | CreditUnions.com
Credit Union Name State 2Q20 Assets $ Total Loans % Assets In Loans
Empire Financial FCU NJ $2,632,166 $2,567,568 97.55%
Greater Nevada Credit Union NV $1,263,727,916 $624,522,145 49.42%
Stepping Stones Community FCU DE $3,499,016 $1,498,522 42.83%
I-C FCU PA $3,081,434 $1,196,600 38.83%
NoteWorthy FCU OH $6,711,441 $2,475,166 36.88%
ELCA FCU IL $24,528,085 $8,107,425 33.05%
Everest FCU NY $964,812 $317,897 32.95%
Capital Area Realtors FCU MD $15,526,492 $4,047,030 26.07%
Notre Dame FCU IN $842,963,527 $205,597,932 24.39%
Northwest Community Credit Union IL $55,773,787 $11,782,463 21.13%
WCLA Credit Union WA $97,562,667 $18,620,924 19.09%
Virginia United Methodist Credit Union VA $18,534,750 $3,402,507 18.36%
SRI FCU CA $134,350,862 $24,610,207 18.32%
Vibrant Credit Union IL $907,685,970 $162,628,086 17.92%
Self-Help FCU NC $1,226,133,655 $203,038,054 16.56%
Brooklyn Cooperative FCU NY $39,825,093 $6,439,009 16.17%
Mt. Zion Indianapolis FCU IN $645,079 $98,484 15.27%
Carter FCU LA $525,202,667 $78,992,166 15.04%
Community First Guam FCU GU $150,282,692 $22,584,884 15.03%
Lutheran FCU MO $26,985,481 $4,029,879 14.93%

Source: United States Treasury Department

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Duncan Bartley contributed to this article.

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