Consumer confidence bolstered by an improving U.S. economy helped the credit union industry post multiple records in its credit card segment in 2014. Credit card balances totaled $46.5 billion at year-end, growing 8.1% annually. That’s the fastest annual growth since the fourth quarter of 2008. The total number of credit cards also reached a peak. The industry added 1.2 million active credit cards during the past 12 months, representing a 7.7% annual increase.
The table below shows the top credit unions in 12-month outstanding credit card balance growth as of Dec. 31, 2014. North Island ($1.1B, San Diego, CA) led the way with a four-fold increase in balances since December 2013.
LEADERS IN 12-MONTH CREDIT CARD LOAN GROWTH
For U.S. credit unions with $20M+ in assets and credit card balances of $3M+ in 2013
© Callahan & Associates | Data as of 12.31.14
|
|
Credit Union |
State |
12-Month Growth |
Credit Card Loans Outstanding (12/14) |
Credit Card Loans Outstanding (12/13) |
Total Assets |
|
1 |
North Island |
CA |
323.32% |
$13,070,122 |
$3,087,547 |
$1,143,959,862 |
|
2 |
Five Star |
AL |
148.72% |
$12,206,230 |
$4,907,630 |
$317,649,991 |
|
3 |
Credit Union of Texas |
TX |
91.94% |
$14,378,766 |
$7,491,153 |
$1,133,230,287 |
|
4 |
Texell |
TX |
80.40% |
$10,361,923 |
$5,743,938 |
$240,244,990 |
|
5 |
Island |
NY |
78.10% |
$6,854,363 |
$3,848,595 |
$977,709,673 |
|
6 |
Teachers |
IN |
77.47% |
$26,269,901 |
$14,802,165 |
$2,650,461,445 |
|
7 |
St. Mary's Bank |
NH |
77.18% |
$6,379,505 |
$3,600,478 |
$814,656,185 |
|
8 |
CME |
OH |
76.66% |
$7,956,015 |
$4,503,633 |
$230,596,325 |
|
9 |
Tulsa |
OK |
72.37% |
$5,839,017 |
$3,387,536 |
$668,951,354 |
|
10 |
Indiana University |
IN |
59.08% |
$11,451,500 |
$7,198,740 |
$780,556,855 |
|
11 |
Sun Community |
CA |
57.76% |
$6,102,112 |
$3,867,869 |
$304,152,769 |
|
12 |
Credit Union of New Jersey |
NJ |
56.23% |
$9,268,596 |
$5,932,708 |
$317,390,221 |
|
13 |
Public Service Employees |
CO |
56.20% |
$13,345,322 |
$8,543,893 |
$1,451,444,300 |
|
14 |
River Valley |
OH |
55.46% |
$9,791,428 |
$6,298,283 |
$310,441,690 |
|
15 |
NASA |
MD |
53.92% |
$166,001,036 |
$107,848,625 |
$1,487,121,339 |
|
16 |
Guardian |
AL |
50.32% |
$6,597,809 |
$4,389,253 |
$298,627,757 |
|
17 |
Red Canoe |
WA |
49.90% |
$16,120,858 |
$10,754,088 |
$638,074,251 |
|
18 |
State Employees' |
NC |
48.30% |
$480,941,108 |
$324,308,718 |
$29,477,543,683 |
|
19 |
Northern Star |
VA |
46.86% |
$9,424,772 |
$6,417,507 |
$81,338,281 |
|
20 |
USC |
CA |
46.42% |
$10,314,560 |
$7,044,277 |
$398,807,881 |
Source: Callahan & Associates’ Peer-to-Peer Analytics