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Alaska, Idaho, and Washington hold strong in credit union deposit market share

WASHINGTON, DC (October 15, 2019) — The NCUA and FDIC recently released second quarter 2019 branch data. The data showcased that cooperatives in Alaska, Idaho, and Washington state lead the credit union industry in deposit market share.

Alaska credit unions have both strong deposit and branch market share at 34.1% and 43.1%, respectively. Alaska was the only state to cross 30.0% in deposit market share, with Idaho trailing slightly behind with 28.8%.

Credit unions in 33 states and the District of Columbia reported double-digit market share. The top 10 are listed below.

STATE LEADERS IN CREDIT UNION DEPOSIT MARKET SHARE
FOR U.S. CREDIT UNIONS | DATA AS OF 06.30.19

State CU Deposits CU Deposit Market Share CU Branches CU Branches/Total Branches
Alaska $6,112,549,658 34.1% 91 43.1%
Idaho $10,905,526,830 28.8% 215 31.8%
Washington $55,404,601,125 25.2% 593 26.5%
New Mexico $10,722,354,130 25.0% 154 26.5%
Oregon $24,511,391,414 23.5% 330 26.2%
Hawaii $12,109,588,176 21.3% 172 39.1%
Vermont $3,662,466,149 21.1% 80 25.9%
District of Columbia $13,768,312,528 20.5% 111 35.4%
New Hampshire $9,081,373,200 20.4% 117 22.7%
Michigan $54,342,266,261 19.4% 1097 31.8%

There were 21,230 credit union branches across the country compared to just over 84,000 bank branches. Credit unions represent 20.2% of total branches in the United States

Though the total number of credit unions has decreased year-over-year, total deposit market share for credit unions was 9.2%, showing that millions of American consumers are continuing to trust credit unions as their primary financial institution.

Callahan & Associates analyzed this data using its proprietary BranchAnalyzer tool, which aggregates FDIC and NCUA quarterly branch data to provide detailed institution-level and geographic market-level deposit analysis.

For more information about branch data or BranchAnalyzer, contact Nicole Sanders at nsanders@callahan.com.

About Callahan & Associates

For nearly 40 years, Callahan & Associates has been instrumental in guiding credit union leaders to make informed strategic decisions to ensure their long-term relevance. They accomplish this by helping credit unions measure performance, identify strategic opportunities, and build collaborative networks, all through a mission-focused lens. Learn more at www.callahan.com.