Which credit union boasts the highest loan originations per employee?

By Janet Lee

According to Callahan & Associates’ FirstLook data, Progressive ($616.8M, New York, NY) was the leader in year-to-date loan originations per employee. Its 31 employees each originated $15.9 million loans year-to-date to total $483.5 million as of September 2013. The next leading credit union was Montauk ($153.0M, New York, NY), another New York-based credit union, with its employee originating $11.5 million loans on average. Of the top five credit unions in loan originations per employee, four credit unions were based in New York and specialize in taxi medallion loans which tend to have higher average balances.

Credit unions, on average, reported $1.04 million in loan originations per employee as of September 2013, up from $1.00 million a year ago. While total loan originations and the number of employees increased over the past year, the 7.3% growth in total loan originations outpaced the 3.6% growth in the number of employees.

leaderS in ytd loan originations per employee
Data As of September, 2013 for Credit Unions over $20M in Assets
© Callahan & Associates | www.creditunions.com

	Credit Union	State	$ Loan Originations Per Employee	$ Loans Originated	Employees	Total Assets
1	Progressive	NY	$15,854,056	$483,548,696	31	$616,780,400
2	Montauk	NY	$11,462,606	$91,700,850	8	$152,950,480
3	Melrose	NY	$11,113,320	$772,375,724	70	$1,868,541,217
4	Lomto	NY	$9,224,919	$202,948,208	22	$254,294,536
5	Pentagon	VA	$6,094,522	$8,410,439,856	1,380	$16,510,849,549
6	Star One	CA	$5,685,623	$955,184,720	168	$6,530,988,330
7	Local Government	NC	$5,665,695	$541,073,896	96	$1,325,620,577
8	WCLA	WA	$4,750,792	$23,753,961	5	$31,030,741
9	General Electric	OH	$4,376,334	$623,627,639	143	$1,822,434,104
10	University Of Iowa Community	IA	$4,022,441	$483,548,696	31	$2,074,755,102