Credit card penetration measures the percent of members having credit card loans at the credit union. According to Callahan & Associates FirstLook data, the industry average for credit card penetration in the second quarter of 2013 stood at 15.42%, up 54 basis points from last year. While both number of credit card loan accounts and membership increased nationally, the 12-months growth in credit card loan accounts (6.60%) outpaced that of members (2.92%). Only 6 states saw a decrease in credit card penetration from last year.
Credit unions in Virginia reported 29.09% in credit card penetration on average as of June 2013, which was the highest rate of all states. This was up 34 basis points from the same quarter a year ago. District of Columbia ranked the second with 23.71% credit card penetration rate, up 47 basis points from the previous year. Credit unions in Washington rounded out the top three with 21.33%.
LEADERS IN CREDIT CARD PENETRATION
Data as of June 30, 2013 for All Credit Unions in the U.S.
© Callahan & Associates | www.creditunions.com
Generated by Callahan & Associates' Peer-to-Peer Analytics