Virginia credit unions top the rest of the nation in average credit card balance per member at $4,300. South Carolina came in second, with each member having an average credit card balance of $3,082. New Jersey rounded out the top three at $2,939. Virginia’s number is skewed higher by Navy FCU, which has an average credit card balancer per member of $5,662. Without Navy, Virginia would rank seventh with an average balance of $2,689. The national average in the first quarter was $2,663.
Outstanding credit card loans increased 6.8% to $39.0 billion at credit unions from March 2012, with over 14,650,000 credit card loans outstanding. The growth seen in the first quarter of 2013 was higher than the growth of 4.7% in the first quarter of 2012 as members feel more secure about their finances.
Roll over a state to see its average credit card balance per member and growth in overall credit card loans outstanding.
AVERAGE CREDIT CARD BALANCE PER MEMBER BY STATE
Data As of March 31, 2013
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Generated by Callahan & Associates' Peer-to-Peer Analytics