Credit unions often serve members who have a common bond. But for cooperatives with a military field of membership, meeting the unique needs of our armed forces personnel and their families is an especially important calling.
There are approximately 88 credit unions that have a military or predominantly military field of membership and these institutions serve over 11.8 million members based across the nation and overseas. Navy Federal, the largest military credit union, is also the largest credit union in the nation with $54.3 billion in assets.
The top 15 military credit unions not only represent 10.6% of the industry’s assets in 1Q 2013 but also display stronger membership growth and ROA than their peers over the $1 billion mark, according to Callahan & Associates’ Peer-to-Peer analytics. Three of the top fifteen military-based credit unions posted double digit membership growth from March 2012, while the group as a whole posted an average of 8.2% growth over the same period. By comparison, other credit unions above $1 billion increased membership by 4.4% over the past 12 months.
Top 15 Military Credit Unions by Asset Size
DATA AS OF MARCH 31, 2013
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