A Fourth of July Salute to Military Credit Unions

In honor of July Fourth, we salute the credit unions that serve those who serve our country. The top 15 military credit unions not only serve our military personnel overseas, they also outperform the industry in financial performance.

 
 

Credit unions that have a military field of membership serve as a vital financial link for many military service personnel and their families. There are approximately 165 credit unions that have a military or predominantly military field of membership and they serve 10.1 million members. The two largest military credit unions, Navy Federal ($24.2 billion in assets) and Pentagon ($7.5 billion) are also the two largest credit unions in the United States and compose 4.7 percent of the industry’s assets just on their own.

These credit unions are a very dynamic group that have changed substantially to meet the needs of their members and for some, their community. SAFE Credit Union in North Highlands, California began in 1947 for employees of the Sacramento Air Depot and by the end of that year had 247 members and $7,000 in assets. As of March 31, 2005, the credit union serves residents of and employee groups in the Sacramento metropolitan area, has 112,820 members and $1.2 billion in assets.

The top 15 military credit unions all have over $1 billion in assets and have branches throughout the world to accommodate military personnel who serve overseas. In terms of financial performance, their average return on assets is 1.4 percent, well above the industry average of 0.9 percent.

Whether they are out in the field or with their families at home, our military personnel can count on their credit unions to serve all of their financial needs.

The Top 15 Military Credit Unions in Assets

Data as of March 31, 2005

 

 

 

 

 

12-Mo. Member

 

 

Rank

St

Credit Union

Assets

Members

Growth

Branches

ROA

1

VA

Navy

$24,206,667,260

2,548,427

6.11%

106

1.44%

2

VA

Pentagon

$7,494,434,824

628,672

8.94%

32

1.99%

3

TX

Security Service

$3,640,158,666

563,952

8.87%

30*

2.06%

4

FL

Vystar

$2,921,174,934

331,942

4.67%

21

0.74%

5

AK

Alaska USA

$2,531,889,738

274,332

5.35%

45*

0.81%

6

TX

Randolph-Brooks

$2,271,982,305

229,507

4.04%

22

2.58%

7

FL

MacDill

$1,603,675,121

173,623

2.66%

17

0.41%

8

CA

North Island

$1,463,304,501

120,842

-7.04%

12

0.55%

9

CA

Travis

$1,443,846,830

126,663

4.85%

11

1.31%

10

OK

Tinker

$1,332,218,928

176,162

1.75%

17*

0.34%

11

CA

SAFE

$1,242,033,251

112,820

4.91%

14*

0.61%

12

VA

Langley

$1,096,439,792

136,328

3.53%

13*

1.21%

13

TX

OmniAmerican

$1,088,581,695

251,482

1.22%

16

0.53%

14

MS

Keesler

$1,061,289,572

175,852

3.55%

16

1.41%

15

OH

Wright-Patt

$1,047,215,535

153,947

3.32%

16*

1.02%

Averages for 15 credit unions:

$3,629,660,863

400,303

5.24%

26

1.40%

 

 

 

 

*participate in a shared branch network in addition

Source:  Callahan & Associates’ Peer-to-Peer Software

 

 

 

July 4, 2005


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