Over the past five years, credit unions have held a steady lead
in asset growth over banks and thrifts. Credit unions have had a
5 year compound growth rate of 10.17% while banks and thrifts had
rates of 7.23% and 9.07% respectively. The last twelve months were
no different. Although both banks and thrifts had double-digit asset
growth, credit unions increased their rate to 12.3%.
In terms of total assets, credit unions continue to have a small
share of the market. Financial institutions hold over $9 trillion
in assets. Credit unions hold 6.4% of these assets, or $612 billion.
Despite having a small portion of the assets, there are still more
credit unions than banks and thrifts combined.