4 Graphs About Field Of Membership Growth

Charter changes and laser-focused community building demonstrate two different ways to entice members to join the credit union fold.
Andrew Bolton

Charter Conversions By Type
For All U.S. Credit Unions | Data as of December 31
Callahan & Associates | www.creditunions.com

Since 2011, federal-to-state charter conversions have outpaced state-to-federal conversions. In 2013, 13 credit unions changed their charter from federal to state versus the five credit unions that converted from state to federal. Read about Denver Community Credit Union’s change to a state charter this week on CreditUnions.com.

Source: Callahan & Associates 2014 Credit Union Directory

Change In Number Of Potential Members
For all U.S. credit unions that changed charters | Data for 2009-2013
Callahan & Associates | www.creditunions.com

Anecdotally, credit unions have cited the ease of gaining a community charter as one reason for converting to a state charter. Indeed, 41% of the credit unions that changed charters in the past five years also gained an increase in potential membership.

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

Membership Penetration For Polish & Slavic FCU
Callahan & Associates | www.creditunions.com

8-18-2014

Switching charters is not the only way to increase roster numbers. Plenty of closed-charter credit unions are posting impressive gains among their primary fields of membership. Polish & Slavic FCU, for example, has increased its penetration into its potential membership base by more than five percentage points in the past five years. The dip in penetration is a result of the credit union reaching out to its ethnic base in a new city. Read more in this week’s feature Success Begets Success For The Nation’s Largest Ethnic Credit Union.

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

August 18, 2014

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