Among all credit unions over $20 million in assets and whose total credit card loan balances were over $3 million in assets a year ago, Charlotte Metro ($301.7M, Charlotte, NC) held the title for the highest annual credit card loan growth. The credit union reported 161.2% in 12-month credit card loan growth to have a total of $10.2 million credit card loans on its book as of June 2013. Harvard University Employees ($434.2M, Cambridge, MA) came in second with another over 100% growth in credit card loans, which comprised 8.5% of its total loans as of June. Red Canoe ($586.0M, Longview, WA) was the next leading credit union with its credit card loans increasing 84.4% annually.
The 12-month credit card loan growth at credit unions nationwide averaged at 7.2% as of June 2013, up from 4.7% reported a year ago. The industry’s total credit card loans reached $40.0 billion as of second quarter 2013. The average credit card balance at credit unions also grew 1.2 percentage points from a year prior to $2,692 per member.
LEADERS IN 12-MONTH CREDIT CARD LOAN GROWTH
Data as of June 30, 2013 for Credit Unions over $20M in Assets
& Total CC Loan Balances over $3M a Year Ago| Excluding Significant Mergers
Callahan & Associates | www.creditunions.com
| Credit Union | State | 12-Month Growth | CC Loans Outstanding as of June 2013 |
CC Loans Concentration | Total Assets | |
|---|---|---|---|---|---|---|
| 1 | CHARLOTTE METRO | NC | 161.17% | $10,160,774 | 4.79% | $301,669,557 |
| 2 | HARVARD UNIVERSITY EMPLOYEES | MA | 112.98% | $25,686,725 | 8.45% | $434,157,706 |
| 3 | RED CANOE | WA | 84.42% | $8,340,605 | 1.96% | $585,983,839 |
| 4 | SECURITY FIRST | TX | 81.22% | $7,620,726 | 2.66% | $378,054,597 |
| 5 | NORTHROP GRUMMAN | CA | 68.87% | $30,479,199 | 6.87% | $923,221,161 |
| 6 | EAST IDAHO | ID | 58.16% | $8,801,061 | 7.49% | $268,203,608 |
| 7 | CHAMPION | NC | 54.71% | $5,601,955 | 4.28% | $185,868,605 |
| 8 | COLUMBIA | WA | 53.43% | $4,634,574 | 0.73% | $917,405,535 |
| 9 | DARDEN EMPLOYEES | FL | 51.35% | $5,652,785 | 18.69% | $35,242,853 |
| 10 | ORNL | TN | 43.07% | $33,414,424 | 2.92% | $1,490,178,474 |
Source: Callahan & AssociatesPeer-to-Peer Analytics
Callahan & Associates 2014 Directory
