Which credit union has the most outstanding private student loans?

 
 

Credit unions nationwide, on average, had $336,141 in outstanding private student loans on their books as of June 2013, up 40.8% from $238,698 reported in the previous June. The average student loan balance increased from $4,945 to $6,022 over the past year. Student loan concentration at credit unions also saw an annual increase of 8 basis points to reach 0.37% as of June. The increase in student loan activities at credit unions signifies credit unions’ growing ability to reach younger generations and to establish and grow relationships with them.

Digital ($5.1B, Marlborough, MA) reported the highest amount of private student loans outstanding among all credit unions, with the total student loan balance amounting to $110.7 million as of June 2013. University of Wisconsin ($1.7B, Madison, WI) came in second with $80.6 million in outstanding private student loans, which consist 7.5% of its total loans as of second quarter. Credit unions whose membership is primarily from students, alumni, and employees at college or university tend to have higher concentration in student loans within their loan portfolios. For instance, Massachusetts Institute of Technology ($382.3M, Cambridge, MA) and Harvard University Employees ($434.2M, Cambridge, MA) reported 23.9% and 18.4% in student loan concentration, respectively, as of June 2013, which are much higher than credit unions $250 million and $500 million in assets’ average student loan concentration of 0.44%. 

LEADERS IN OUTSTANDING PRIVATE STUDENT LOANS
Data as of June 30, 2013 For All Credit Unions in the U.S.
© Callahan & Associates | www.creditunions.com

  Credit Union State Outstanding Private Student Loans Average Balance of Student Loans Student Loans/Total Loans Total Assets
1 DIGITAL MA $110,689,244 $41,317 2.66% $5,057,825,722
2 UNIVERSITY OF WISCONSIN WI $80,648,974 $6,428 7.51% $1,744,169,093
3 AFFINITY NJ $71,387,509 $15,067 4.14% $2,291,863,169
4 ELI LILLY IN $65,032,942 $4,643 10.39% $1,057,076,100
5 MASSACHUSETTS INSTITUTE OF TECH MA $62,236,832 $56,374 23.88% $382,271,618
6 BECU WA $60,657,711 $21,811 0.88% $11,520,433,504
7 EASTMAN TN $56,727,606 $15,917 2.84% $2,795,481,632
8 HARVARD UNIVERSITY EMPLOYEES MA $55,857,584 $35,692 18.37% $434,157,706
9 COASTAL NC $51,198,691 $80,375 3.62% $2,228,856,968
10 MOUNTAIN AMERICA UT $43,194,727 $8,982 1.61% $3,598,406,193


Source: Callahan & Associates’ Peer-to-Peer Analytics
 Callahan & Associates’ 2014 Directory