Total Number Of Credit Union Employees
For all U.S. credit unions | Data as of December 31, 2013
Callahan & Associates | www.creditunions.com
Source: Callahan & Associates Peer-to-Peer Analytics
The number of credit union employees has increased throughout the past three years. In 2012 and 2013, industry employment numbers increased 3.3% and 2.6%, respectively. The 2.6% annual growth in 2013 outpaced the 1.7% growth in total U.S. nonfarm payrolls.
Average Salary & Benefit Of Credit Union Employees
For all U.S. credit unions | Data as of December 31, 2013
Callahan & Associates | www.creditunions.com
Source: Callahan & Associates Peer-to-Peer Analytics
Throughout the past five years, the growth in average salary and benefits for credit union employees has outpaced that of average U.S. employees. In 2013, the annual growth of credit union salary and benefits topped 2.0% and reached nearly $65,000.
Top 20 States In Employee Growth And Loan Growth
For all U.S. credit unions | Data as of December 31, 2013
Callahan & Associates | www.creditunions.com
|
State |
Employee Growth |
State |
Loan Growth | ||
|---|---|---|---|---|---|
| 1 | Idaho |
10.1% |
1 |
Idaho |
17.1% |
| 2 | Virginia |
9.2% |
2 |
Rhode Island |
14.9% |
| 3 | North Dakota |
7.1% |
3 |
Iowa |
13.8% |
| 4 | Vermont |
7.1% |
4 |
Virginia |
13.3% |
| 5 | New Hampshire |
7.0% |
5 |
Oklahoma |
12.3% |
| 6 | Utah |
5.9% |
6 |
New Hampshire |
12.2% |
| 7 | South Dakota |
5.7% |
7 |
Colorado |
11.3% |
| 8 | Michigan |
5.6% |
8 |
Wyoming |
11.0% |
| 9 | Arizona |
4.7% |
9 |
Utah |
10.3% |
| 10 | Nevada |
4.4% |
10 |
Washington |
9.6% |
| 11 | Pennsylvania |
4.3% |
11 |
Vermont |
9.6% |
| 12 | Texas |
4.2% |
12 |
Texas |
9.5% |
| 13 | Florida |
4.1% |
13 |
Ohio |
9.3% |
| 14 | North Carolina |
4.1% |
14 |
New Mexico |
9.3% |
| 15 | Washington |
4.0% |
15 |
Michigan |
9.2% |
| 16 | Iowa |
3.9% |
16 |
Kansas |
9.1% |
| 17 | Montana |
3.9% |
17 |
North Carolina |
9.1% |
| 18 | Mississippi |
3.9% |
18 |
Alaska |
9.1% |
| 19 | New Mexico |
3.8% |
19 |
South Dakota |
8.8% |
| 20 | Oregon |
3.8% |
20 |
North Dakota |
8.7% |
| U.S. Credit Union Average |
2.6% |
U.S. Credit Union Average |
7.9% |
Source: Callahan & Associates Peer-to-Peer Analytics
Of the 20 states with the highest employee growth in 2013, 13 also make the list for top 20 states in loan growth. For example, Idaho holds the title for both the highest employee growth and the highest loan growth in 2013. Additionally, the eight credit unions with the highest employee growth are also among the top 20 credit unions with the highest loan growth.
Top 20 States In Average Salary & Benefit And Loan Originations Per Employee
For all U.S. credit unions | Data as of December 31, 2013
Callahan & Associates | www.creditunions.com
|
State |
Average Salary & Benefit |
State |
Loan Orginiations Per Employee | ||
|---|---|---|---|---|---|
| 1 | Alaska |
$78,807 |
1 |
Virginia |
2881696 |
| 2 | California |
$78,690 |
2 |
Utah |
$1,943,099 |
| 3 | District of Columbia |
$76,745 |
3 |
North Dakota |
$1,829,166 |
| 4 | Virginia |
$75,249 |
4 |
Colorado |
$1,794,549 |
| 5 | Maryland |
$74,377 |
5 |
Iowa |
$1,718,308 |
| 6 | Connecticut |
$72,564 |
6 |
Alaska |
$1,709,254 |
| 7 | New York |
$71,923 |
7 |
Washington |
$1,699,036 |
| 8 | New Jersey |
$71,752 |
8 |
Vermont |
$1,603,699 |
| 9 | Rhode Island |
$71,434 |
9 |
Wisconsin |
$1,599,004 |
| 10 | Washington |
$70,233 |
10 |
California |
$1,572,401 |
| 11 | Colorado |
$67,525 |
11 |
Rhode Island |
$1,503,982 |
| 12 | Massachusetts |
$67,515 |
12 |
New York |
$1,453,283 |
| 13 | Oregon |
$67,455 |
13 |
Oklahoma |
$1,424,508 |
| 14 | New Hampshire |
$67,360 |
14 |
Idaho |
$1,405,965 |
| 15 | Hawaii |
$64,854 |
15 |
Massachusetts |
$1,399,197 |
| 16 | Illinois |
$64,782 |
16 |
Oregon |
$1,381,708 |
| 17 | Georgia |
$64,644 |
17 |
Illinois |
$1,363,694 |
| 18 | Minnesota |
$64,189 |
18 |
South Dakota |
$1,318,883 |
| 19 | Nevada |
$63,827 |
19 |
Minnesota |
$1,309,515 |
| 20 | Ohio |
$63,642 |
20 |
New Hampshire |
$1,277,804 |
| U.S. Credit Union Average |
$64,965 |
U.S. Credit Union Average |
$1,381,249 |
Source: Callahan & Associates Peer-to-Peer Analytics
More than half of the states that ranked in the top 20 for average salary and benefits in 2013 are also among the top 20 states for loan originations per employee. For example, Virginia credit unions ranked No. 4 with an average salary and benefit of $75,249 and ranked No. 1 in loan originations per employee.
