Our recent article, Analyzing Credit Unions’ 2019 SEG Additions provided insight into the types of select employee groups (SEGs) federal credit unions are adding. Now, let’s talk about the credit unions that are adding SEGs. It’s important to note that asset size is a significant limiting factor to how much a credit union is able to expand its Field of Membership. To address this, we’ve split our analysis into 5 asset categories:
Small: Assets less than $10 million
Medium: Assets between $10 million and $50 million
Large: Assets between $50 million and $100 million
Extra-Large: Assets between $100 million and $1 billion
Huge: Assets greater than $1 billion
These asset-size buckets are where we found comparable groups within the data. For each of these size ranges, we determined which credit unions had business development teams that were performing exceptionally in comparison to their available resources. We accomplished this by taking a closer look at the number of groups added and the total potential members added to their fields of membership. For the sake of making these observations as relevant as possible, we chose to focus our analysis on the years 2015 through 2019. Asset sizes were determined by averaging the assets a credit union had at the time of their SEG additions and may not necessarily reflect the credit union’s current asset size.
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