Credit score unions have been rising significantly lately. Whereas complete belongings in federally insured credit score unions totaled $1.57 trillion in 2019, that determine had risen to $2.31 trillion by March 2024 — marking a rise of about 47% in lower than 5 years.
Presently, the ten largest credit score unions maintain roughly $359 billion price of deposits and $427 billion in complete belongings.
Right here’s a breakdown of the largest credit score unions within the U.S. by complete belongings, based on the Nationwide Credit score Union Administration (NCUA).
| Rank | Credit score Union Title | Whole Property |
|---|---|---|
| 1 | Navy Federal | $178 billion |
| 2 | State Workers’ | $55.9 billion |
| 3 | Pentagon Federal | $34.4 billion |
| 4 | SchoolsFirst | $30.6 billion |
| 5 | Boeing Workers | $30.2 billion |
| 6 | Golden 1 | $20.5 billion |
| 7 | America First | $20.3 billion |
| 8 | Alliant | $20.1 billion |
| 9 | Mountain America | $19.3 billion |
| 10 | Suncoast | $18.2 billion |
1. Navy Federal Credit score Union
Navy Federal is the biggest credit score union within the nation. It has round 355 branches (which rivals one or two of the largest banks within the U.S.), primarily within the Northeast, and greater than 13 million members, totaling $151.4 billion in deposits. The credit score union gives a full host of monetary services, together with deposit merchandise like checking and financial savings accounts and credit score merchandise like bank cards and auto loans.
To be able to be a member, you or a household/family member should have a tie to the armed forces, the U.S. Division of Protection or the Nationwide Guard.
Property: $178 billion
Headquarters: Vienna, Virginia
2. State Workers’ Credit score Union
Chartered in 1937, State Workers’ is the second largest credit score union within the U.S. It has greater than 275 branches, all in North Carolina. With greater than $45 billion in deposits, State Workers’ has practically 2.8 million members. Membership is open primarily to staff (and their households) situated in North Carolina.
Property: $55.9 billion
Headquarters: Raleigh, North Carolina
3. Pentagon Federal Credit score Union
Though it’s the third largest credit score union by complete belongings, Pentagon Federal (also referred to as PenFed) ranks second in variety of clients, with greater than 2.8 million members. Its deposits complete $29.6 billion. The credit score union has simply 48 branches scattered throughout the U.S., however gives a full spectrum of monetary merchandise, together with certificates of deposit (CDs) in addition to cash market, checking and financial savings accounts. PenFed membership is open to anybody.
Property: $34.4 billion
Headquarters: McLean, Virginia
4. SchoolsFirst Federal Credit score Union
SchoolsFirst is a California-based establishment servicing over 1.3 million members. With greater than $25 million in complete deposits, it maintains 69 branches. The credit score union serves instructional communities in California.
As such, membership is open to present or retired faculty staff dwelling in California or these with a member of the family who belongs to the credit score union. Membership can also be open to staff dwelling in California whose firm primarily gives direct companies to a college or district in California, or faculty college students enrolled in eligible education schemes with a pupil educating requirement.
Property: $30.6 billion
Headquarters: Tustin, California
5. Boeing Workers Credit score Union
Positioned principally within the Northwest, Boeing Workers’ Credit score Union is the biggest credit score union in Washington state. BECU has greater than 1.4 million members, they usually maintain greater than $25 billion in deposits on the credit score union. Membership is at the moment open to those that stay, work or go to highschool in Washington state, residents of choose counties in Oregon, Idaho and South Carolina, and people who are affiliated with accomplice corporations like Boeing.
Property: $30.2 billion
Headquarters: Tukwila, Washington
6. Golden 1 Credit score Union
Golden 1 Credit score Union was chartered in 1933. At this time, it serves greater than 1 million members and has greater than $17 million in complete deposits. The credit score union gives a full vary of monetary merchandise, together with deposit and mortgage merchandise, and maintains 63 branches scattered all through California.
Membership is open to anybody who lives or works in California. Non-Californians may additionally grow to be members if a member of the family or home accomplice is a present member or if they’re a member of a Choose Worker Group.
Property: $20.5 billion
Headquarters: Sacramento, California
7. America First Credit score Union
Based in 1939, America First Credit score Union is a Utah-based establishment, the place most of its branches will be discovered. The credit score union has 1.4 million members with $17.9 billion price of deposits. Membership is open primarily to those that stay,work, worship or attend faculty in Salt Lake, Utah and Juab Counties, but it surely’s additionally open to those that reside in parts of Arizona, Nevada, New Mexico, Idaho and Oregon.
Property: $20.3 billion
Headquarters: Riverdale, Utah
8. Alliant Credit score Union
Alliant Credit score Union has greater than 850,000 members, and it has greater than $15 billion in deposits. The net-only credit score union doesn’t preserve any branches.
Membership in Alliant is open to present or retired staff (and their households) of companies and organizations that accomplice with Alliant within the U.S. Membership can also be open to individuals who stay or work in one of many communities close to the corporate’s headquarters in Chicago, and Alliant Credit score Union Basis digital inclusion advocates.
Property: $20.1 billion
Headquarters: Chicago, IL
9. Mountain America Credit score Union
Positioned solely in western states, Mountain America is the ninth largest credit score union within the U.S. It has greater than 1.2 million members, totaling $16.9 billion in deposits. The credit score union has greater than 100 branches in Utah, New Mexico, Arizona, Idaho, Nevada and Montana.
Membership eligibility is usually restricted to these dwelling in parts of Utah, however membership will also be prolonged to household and family members. Moreover, staff and volunteers of choose organizations are eligible to affix.
Property: $19.3 billion
Headquarters: Sandy, Utah
10. Suncoast Credit score Union
Suncoast Credit score Union has greater than $15 billion in complete deposits. The credit score union’s branches are situated principally in Florida. You may grow to be a member when you stay, work, attend faculty, or take part in spiritual actions within the counties served by Suncoast Credit score Union. Alumni of Florida Faculty are additionally eligible.
Property: $18.2 billion
Headquarters: Tampa, Florida
Backside Line
Credit score unions have skilled important progress lately, with the highest 10 holding billions of {dollars} in belongings and serving hundreds of thousands of members. Whereas eligibility necessities differ, anybody can be part of a credit score union and make the most of its full vary of monetary services. Because the banking surroundings continues to vary, it’s price contemplating credit score unions as a viable different to conventional banks.
