Star One Credit Union Posts 5.64% Growth In Member Relationships

The California cooperative reaches all-time high in average member relationship.

The average member relationship at Star One Credit Union($7.6B, Sunnyvale, CA) has reached an all-time high of $86,358 as of June 30, 2015. That’s a 5.58% year-over-year increase.

By comparison, credit unions nationally posted 3.52% YOY growth in average member relationships, according to second quarter data on more than 6,100 credit unions. More notably, the average member relationship which excludes business loans for credit unions nationally is $16,613, or less than one-quarter that of Star One’s.

Any growth at all in this metric is partly the result of a recovering economy and favorable rates for credit union members.

AVERAGE MEMBER RELATIONSHIP (EXCLUDING BUSINESS LOANS)
For all U.S. credit unions | Data as of 06.30.15
Callahan & Associates | www.creditunions.com

Average_Member_Relationship

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

Star One’s first mortgage activity is responsible for a significant portion of the credit union’s member relationship growth as of midyear 2015, first mortgages comprise 81.89% of Star One’s loan portfolio.

The credit union offers a quick, no-fee mortgage origination program that allows members to take out mortgages as large as $2.5 million. It also partners with HomeAdvantage, part of CU Realty Services, to offer members a way to research listings and find a real estate agent.

But the average member relationship encompasses more than lending.

Of Star One’s 93,930 members, 57.68% have a share draft account. That’s 2.91 percentage points higher than the industry average of 54.77%. Star One is also increasing shares at a faster rate than both asset-based and national peers.

SHARE GROWTH
For all U.S. credit unions | Data as of 06.30.15
Callahan & Associates | www.creditunions.com

Share_Growth

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

August 25, 2015

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