Plastic Makes Perfect

Credit cards foster loyalty and build a strong loan portfolio. Here are the 4Q10 leaders in credit card penetration.

 
 

The credit card market is an unpredictable environment. According to one consumer credit report, even with the recession’s loosening grip, consumers might be less likely to rely on credit cards to avoid accruing debt. Still, some folks need the funding to make ends meet.

Credit cards can be a valuable product. Members use them to bridge gaps between paychecks and make emergency purchases. For credit unions, the plastic rectangles strengthen relationships with memebrs and diversify loan portfolios.

School Employees Lorain County Credit Union ($133.9M, Elyria, OH) sets the pace with 59.3% penetration. Looking at numbers as a whole, two things stand out: All 10 leaders have penetration greater than 50%, and all of the average balances (with the exception of Acme Continental’s $3,147) are less than $2,000.

Leaders In Credit Card Penetration
For U.S. Credit Unions $20M+ in Assets | Data as of December 31, 2010
Rk St Name Credit Card Penetration $ CC Loans/Total Loans Avg. CC Balance % CC Loan Growth $ Unsecured Credit Card Loans Total Assets
1 OH School Employees Lorain County 59.29% 17.67% $1,763 -0.90% $12,275,293 $133.9M
2 CA Pentagon 57.12% 11.42% $2,579 -2.37% $1,476,708,876 $14.9B
3 CA Acme Continental 54.13% 46.43% $3,147 -0.23% $11.955,453 $45.9M
4 CA Lutheran Credit Union of America 53.44% 6.56% $1,027 -0.47% $987,932 $27.5M
5 IL NAPUS 52.13% 16.70% $1,983 11.97% $36,196,687 $271.6M
6 VA San Diego Firefighters 52.00% 7.89% $1,794 -1.16% $3,294,468 $77.6M
7 NY Florida Baptist 51.95% 10.36% $857 6.01% $1,202,093 $24.3M
8 TX Utica Gas & Electric Empl. 51.24% 9.39% $1,367 9.69% $1,785,351 $43.3M
9 FL Entrust 50.99% 29.39% $1,801 3.22% $8,842,848 $68.4M
10 VA O.A.S. Staff 50.95% 5.22% $1,402 2.51% $4,057,161 $148.0M
Callahan & Associates' Peer-to-Peer Software.

 

 

 

 

March 7, 2011


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