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Article: The Credit Union Journal's Great Big Look at Small Busines Unions.(data for assets held by small credit unions)(Brief Article)(Statistical Data Included)
- Article from:
- Credit Union Journal
- Article date:
- September 23, 2002
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nearly seven out of every 10 credit unions in the United States have less than $20 million in assets, yet they remain largely invisible within the national credit union community. That's because while CUs with fewer than $20 million in assets made up 69.5% of all credit union charters at year end 2001, they only held 5.7% of all credit union assets.
Indeed, at year end 2001 you could have taken all 5,558 credit unions with fewer than $10 million in assets (representing total assets of $13.1 billion) and fit all of them inside Navy FCU's $15.1 billion in assets-and still have room to spare for another $2 billion.
And small credit unions continue to ...