IBM Southeast Employees' Posts Share Draft Penetration 43.1% Higher Than The Industry Average

Membership at the Florida credit union declined slightly while the number of share draft accounts increased.

 
 

Share draft penetration is an indication of how many members hold a checking account at their credit union. It is calculated by dividing the number of share draft accounts by the number of members and is a major indicator of whether a credit union holds a member’s primary financial relationship.

According to Callahan & Associates’ Firstlook program — in which 5,042 credit unions representing 88.9% of industry assets are reporting — share draft penetration for third quarter 2015 has topped 55.0%. This is a 70-basis-point year-over-year increase and the result of the industry’s share draft growth of 6.4% outpacing its 3.8% member growth.  

With a share draft penetration of 98.1%, IBM Southeast Employees’ Credit Union ($881.3M, Boca Raton, FL) outperformed both national and asset-based peers. Although membership declined slightly, -0.03% annually, the number of share draft accounts increased 6.1%.

SHARE DRAFT PENETRAION
For all U.S. credit unions | Data as of 09.30.15
© Callahan & Associates | www.creditunions.com

Share_Draft_Penetration_V2

Source: Peer-to-Peer Analytics by Callahan & Associates

Among credit unions with assets ranging from $500 million to $1 billion, IBM Southeast Employees’ ranks fourth in share draft penetration and has expanded the metric by 5.9 percentage points annually.

Credit unions in this peer group on average had a share draft penetration of 57.8%, up 43 basis points year-over-year.

SHARE DRAFT PENETRAION
For FirstLook credit unions $500M-$1B in assets | Data as of 09.30.15
© Callahan & Associates | www.creditunions.com

Rank State Credit Union Share Draft Penetration September 2015 Share Draft Penetration September 2014 Year-Over-Year Change
1 DC IDB-IIC 108.9% 108.0% 0.9%
2 CA Pacific Marine 105.2% 105.6% -0.4%
3 FL Power Financial 104.5% 96.2% 8.3%
4 FL IBM Southeast Empl. 98.1% 92.2% 5.9%
5 VA 1st Advantage 91.7% 55.5% 36.2%
6 CA Arrowhead Central 84.8% 83.2% 1.6%
7 FL Tropical Financial 83.6% 91.2% -7.6%
8 CA USE 81.7% 78.1% 3.5%
9 NV One Nevada 81.0% 62.2% 18.1%
10 WI Westconsin 79.4% 71.1% 8.3%
Peer Group Average 57.9% 57.5% 0.4%

Source: Peer-to-Peer Analytics by Callahan & Associates

 
 

Nov. 3, 2015


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