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