HSAs And Deposit Growth, Online Banking, And Gen Y

Five can’t-miss data points this week on CreditUnions.com.

This week, CreditUnions.com finds a role for HSAs in deposit growth, argues why it’s time to make your credit union a lifestyle brand, offers a guide to Generation Y, and more.

Here are five can’t-miss data points:


Health savings accounts comprise approximately 9.6% of the deposit portfolio at Everence FCU. That’s the fifth-highest percentage of all credit unions in the United States for the first quarter of 2018. What makes this product such a large part of Everence’s operations? To begin with, it has an innovative design mixed with what credit union CEO Kent Hartzler calls a new-found legitimization as a long-term savings vehicle.

Read: A Role For HSAs In Deposit Growth ContentMiddleAd


In today’s business environment, questions about framing and branding are neither rhetorical nor merely academic. Credit unions must now consider how well they are placing members at the center of their brand. A good example of this, Spire Credit Union’s Driven by Midwest Values campaign, stars animated president/CEO Dan Stoltz and Archie, the credit union’s 1952 Ford pickup, meeting Minnesotans.

Read: It’s Time To Make Your Credit Union A Lifestyle Brand


One of Callahan’s interns was 19 and confused. His bank had charged him $35 for having negative $2 to his name. Exhausted and broke, he did what any self-respecting teen would do: went online and found Simple Bank a fee-less, punishment-less, technology-driven checking experience. Fast forward two years, and he’s still there, loving his bank.

Read: Why I Only Bank Online

$57.2 Billion

Credit card lending continued its rise across the credit union industry in the first quarter of 2018. Total balances topped $57.2 billion as of March 31, that’s a year-over-year increase of 9.8%. Credit unions also reported a bump in the average credit card balance. That has increased $125 in the past 12 months to reach $2,895. Credit card usage increased 9 basis points annually to 31.1%.

Read: Credit Cards By The Numbers


Different generations require different conversations. Learn how credit unions can serve all ages in Callahan’s recurring graphic series, including Generation Y those 22-37 year-olds born between 1981 and 1996.

Read: The Credit Union Guide To Generation Y

Happy Reading!

August 13, 2018

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