Credit union membership by state

[greenforest32]

I just found some interesting info: credit union membership as a percentage of state population.

All the data is as of September 2010 and is from the Credit Union National Association. Specifically, I got the data from their state fact sheets: http://www.cuna.org/download/factsheet/California.pdf

Just replace the state name in the above URL for the state you want and make sure to capitalize the first letter of the state name.

Data in ranked list:

Virginia - 85.7%
Alaska - 85.4%
Hawaii - 66.9%
Utah - 63.5%
Vermont - 47.5%
Maine - 46.4%
Michigan - 44.6%
Washington - 40.6%
Montana - 39.9%
Wisconsin - 39.9%
Oregon - 39.3%
Wyoming - 38.8%
Massachusetts - 37.4%
Indiana - 35.0%
New Hampshire - 35.0%
Idaho - 34.6%
North Carolina - 34.1%
New Mexico - 32.8%
Maryland - 31.2%
North Dakota - 31.2%
Iowa - 31.1%
Rhode Island - 30.9%
South Dakota - 30.6%
Texas - 30.3%
South Carolina - 29.9%
Colorado - 28.9%
Minnesota - 28.9%
Tennessee - 28.8%
Pennsylvania - 28.2%
Oklahoma - 27.8%
California - 26.5%
Louisiana - 26.3%
Connecticut - 24.8%
Florida - 24.7%
Alabama - 24.4%
Delaware - 24.3%
Arizona - 23.6%
Nebraska - 23.6%
Ohio - 23.1%
New York - 22.8%
Missouri - 22.6%
Illinois - 21.7%
West Virginia - 21.5%
Kansas - 21.3%
Mississippi - 18.7%
Georgia - 18.4%
Kentucky - 16.8%
Nevada - 14.8%
New Jersey - 12.8%
Arkansas - 11.0%

National Average - 29.8%
Also, District of Columbia - 65.2%

Data in shaded map:

[greenforest32]

Any idea how they treat people like me who have banking relationships with many banks and credit unions?

A lot of people bank with more than one financial institution. So is it where you have most of your assets or if you bank at all with any credit union.



By the way, it isn't surprising that Virginia has the highest rate. Most of the best credit unions are based in Virginia. I personally bank with numerous credit unions from Virginia.

I only posted data with credit union membership as a % of state population, they also have separate data on % market share of deposits rather than memberships. I'm not really sure how they handle people dealing with multiple institutions, probably their membership gets counted more than once?

[greenforest32]

Any idea how they treat people like me who have banking relationships with many banks and credit unions?

A lot of people bank with more than one financial institution. So is it where you have most of your assets or if you bank at all with any credit union.



By the way, it isn't surprising that Virginia has the highest rate. Most of the best credit unions are based in Virginia. I personally bank with numerous credit unions from Virginia.

I only posted data with credit union membership as a % of state population, they also have separate data on % market share of deposits rather than memberships. I'm not really sure how they handle people dealing with multiple institutions, probably their membership gets counted more than once?

People can be both credit union members and belong to a bank. So this could be counting people that mostly use the bank right? Just as long as they have a membership they get counted right?

Most likely.

[greenforest32]

Looks like total national membership hasn't changed much since 2010Q3:

"Credit Unions Add Members, Grow Assets, and Build Net Worth in Third Quarter"

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http://www.ncua.gov/News/Pages/NW20111201Q3CRD.aspx

91.4 million members in 2011Q3 compared to about 91.5 million members in 2010Q3. 2011Q4 will probably see quite a bump though and I'll be eager to see the 2011 state membership figures.

Pretty sure Oregon and Washington will see an increase in penetration rates as there have been lots of increases in memberships and the Oregon/Washington credit union associations and foundations merged recently:

1. http://www.cutimes.com/2010/11/10/northwest-cu-association-finalized-more-mergers-to-come
2. http://www.cutimes.com/2011/11/06/northwest-foundation-merger-on-track

Washington's BECU is great. They're open to anybody who lives in Washington and it's the 4th largest credit union nationwide. Oregon doesn't have a statewide credit union like BECU

The largest one here (OnPoint) needs to expand!

[greenforest32]

2011 numbers not bad, though I was expecting better

http://www.latimes.com/business/la-fi-bank-fees-complaints-20120302,0,7970213.story

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2012 might be good too:

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[greenforest32]

Pretty sure Oregon and Washington will see an increase in penetration rates as there have been lots of increases in memberships and the Oregon/Washington credit union associations and foundations merged recently:

1. http://www.cutimes.com/2010/11/10/northwest-cu-association-finalized-more-mergers-to-come
2. http://www.cutimes.com/2011/11/06/northwest-foundation-merger-on-track

Boomin~

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Read more at http://www.cuna.org/newsnow/12/system031312-7.html

[greenforest32]

I wonder why CUs are so much more popular in WA than in OR.

Well they are pretty close currently in terms of usage (~39% in OR vs ~41% in WA from 2010Q3) but I think Washington has a longer history with them than Oregon.

I do think having a statewide one (BECU) is an advantage in terms of advertising/raising awareness. We're due for some consolidation down here.

[greenforest32]

I wonder why CUs are so much more popular in WA than in OR.

Well they are pretty close currently in terms of usage (~39% in OR vs ~41% in WA from 2010Q3) but I think Washington has a longer history with them than Oregon.

I do think having a statewide one (BECU) is an advantage in terms of advertising/raising awareness. We're due for some consolidation down here.

I probably should've been more specific and asked why they grew so much more in WA last year. BECU probably helps. It's only in the Puget Sound area, though.

Oh wow, all this time I thought BECU was all over the state: http://www.becu.org/locations.aspx

That does make me wonder why WA credit unions are growing faster. Obviously a bit of the difference is due to population (~3.87 million people in OR vs. ~6.83 million people in WA from 2011) but that wouldn't explain the 5x difference for the 2011 numbers.

[greenforest32]

All the data is as of September 2010 and is from the Credit Union National Association. Specifically, I got the data from their state fact sheets: http://www.cuna.org/download/factsheet/California.pdf

Just replace the state name in the above URL for the state you want and make sure to capitalize the first letter of the state name.

They released their 2011 numbers recently.

Data in ranked list (December 2011)

State, %, (% point change from previous period)

Virginia - 89.8% (+4.1)
Alaska - 89.5% (+4.1)
Utah - 61.5% (-2.0)
Hawaii - 58.7% (-8.2)
Vermont - 49.8% (+2.3)
Maine - 46.2% (-0.2)
Michigan - 45.0% (+0.4)
Washington - 41.5% (+0.9)
Wisconsin - 40.1% (+0.2)
Montana - 38.3% (-1.6)
New Hampshire - 37.9 (+2.9)
Massachusetts - 37.8% (+0.4)
Wyoming - 37.8% (-1.0)
Alabama - 37.1% (+12.7)
Oregon - 35.4% (-3.9)
Idaho - 35.1% (+0.5)
Indiana - 34.6% (-0.4)
North Carolina - 34.5% (+0.4)
New Mexico - 33.2% (+0.4)
Iowa - 31.7% (+0.6)
Rhode Island - 30.8% (-0.1)
Texas - 30.1% (-0.2)
Maryland - 30.0% (-1.2)
North Dakota - 29.9% (-1.3)
South Dakota - 29.9% (-0.7)
South Carolina - 29.5% (-0.4)
Pennsylvania - 28.6% (+0.4)
Tennessee - 28.4% (-0.4)
Minnesota - 28.2% (-0.7)
Colorado - 28.1% (-0.8 )
Oklahoma - 27.9% (+0.1)
Kansas - 27.7% (+6.4)
California - 25.7% (-0.8 )
Louisiana - 25.4% (-0.9)
Connecticut - 24.2% (-0.6)
Florida - 24.2% (-0.5)
Nebraska - 23.7% (+0.1)
New York - 23.7% (+0.9)
Delaware - 23.2% (-1.1)
Ohio - 23.2% (+0.1)
Arizona - 21.9% (+1.7)
Illinois - 21.9% (+0.2)
West Virginia - 20.9% (-0.6)
Missouri - 19.9% (-2.7)
Georgia - 19.2% (+0.8 )
Mississippi - 18.7% (-)
Kentucky - 16.7% (-0.1)
Nevada - 12.8% (-2.0)
New Jersey - 11.9% (-0.9)
Arkansas - 11.1% (+0.1)

National Average - 29.8% (-)
Also, District of Columbia - 65.2% (No 2011 numbers released)

Data in shaded map (December 2011)