Credit card penetration reflects the percentage of members holding credit card loan accounts at their credit union. Data from Callahan & Associates’ 2014 Directory say that the credit union industry’s credit card penetration averaged at 15.42% as of June 2013, up 53 basis points from the rate reported in the previous year. As member relationship has deepened at credit unions, more members have begun to hold credit cards at their credit unions.
Mid-Cities Financial ($23.6M, Compton, CA) saw 72.9% of members using its credit card service, which was the highest credit card penetration among credit unions over $20 million in assets as of June 2013. Taupa Lithuanian ($21.3M, South Boston, MA) came in second with 63.7% of members holding credit card loans at the credit union. Lutheran Credit Union of America ($29.2M, Brea, CA) ranked third with 57.7% in credit card penetration as of second quarter.
LEADERS IN CREDIT CARD PENETRATION
Data as of June 30, 2013 For Credit Unions over $20M in Assets
© Callahan & Associates | www.creditunions.com
|
|
Credit Union |
State |
Credit Card Penetration |
Total Assets |
|
1 |
MID-CITIES FINANCIAL |
CA |
72.90% |
$23,589,417 |
|
2 |
TAUPA LITHUANIAN |
MA |
63.70% |
$21,323,625 |
|
3 |
LUTHERAN CU OF AMERICA |
CA |
57.73% |
$29,205,432 |
|
4 |
O.A.S. STAFF |
DC |
57.36% |
$158,444,913 |
|
5 |
NAPUS |
VA |
53.80% |
$277,234,242 |
|
6 |
HOUSTON POLICE |
TX |
53.79% |
$523,400,788 |
|
7 |
ENTRUST |
VA |
51.18% |
$73,356,407 |
|
8 |
FLORIDA BAPTIST |
FL |
51.11% |
$24,123,760 |
|
9 |
SAN DIEGO FIREFIGHTERS |
CA |
51.07% |
$84,983,795 |
|
10 |
KUE |
KY |
50.72% |
$38,024,730 |
Source: Callahan & Associates’ Peer-to-Peer Analytics
Callahan & Associates’ 2014 Directory