Credit score unions have been rising significantly in recent times. Whereas complete property 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 property.
Right here’s a breakdown of the largest credit score unions within the U.S. by complete property, in response to the Nationwide Credit score Union Administration (NCUA).
| Rank | Credit score Union Title | Whole Property |
|---|---|---|
| 1 | Navy Federal | $178 billion |
| 2 | State Staff’ | $55.9 billion |
| 3 | Pentagon Federal | $34.4 billion |
| 4 | SchoolsFirst | $30.6 billion |
| 5 | Boeing Staff | $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 most important 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 presents a full host of economic services and products, together with deposit merchandise like checking and financial savings accounts and credit score merchandise like bank cards and auto loans.
With the intention to be a member, you or a household/family member will need to 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 Staff’ Credit score Union
Chartered in 1937, State Staff’ 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 Staff’ has almost 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 property, Pentagon Federal (also called PenFed) ranks second in variety of prospects, 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 offers a full spectrum of economic 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 college 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 presents direct providers 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 Staff Credit score Union
Situated principally within the Northwest, Boeing Staff’ Credit score Union is the most important credit score union in Washington state. BECU has greater than 1.4 million members, and so they maintain greater than $25 billion in deposits on the credit score union. Membership is at the moment open to those that reside, work or go to highschool in Washington state, residents of choose counties in Oregon, Idaho and South Carolina, and people who are affiliated with associate firms like Boeing.
Property: $30.2 billion
Headquarters: Tukwila, Washington
6. Golden 1 Credit score Union
Golden 1 Credit score Union was chartered in 1933. Right now, it serves greater than 1 million members and has greater than $17 million in complete deposits. The credit score union presents a full vary of economic 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 can also turn out to be members if a member of the family or home associate 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 may 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 reside,work, worship or attend college in Salt Lake, Utah and Juab Counties, nevertheless it’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 associate with Alliant within the U.S. Membership can also be open to individuals who reside 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
Situated 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 generally restricted to these dwelling in parts of Utah, however membership can be prolonged to household and family members. Moreover, staff and volunteers of choose organizations are eligible to hitch.
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 turn out to be a member in case you reside, work, attend college, or take part in non secular actions within the counties served by Suncoast Credit score Union. Alumni of Florida School are additionally eligible.
Property: $18.2 billion
Headquarters: Tampa, Florida
Backside Line
Credit score unions have skilled important progress in recent times, with the highest 10 holding billions of {dollars} in property and serving thousands and thousands of members. Whereas eligibility necessities fluctuate, anybody can be a part of a credit score union and reap the benefits of its full vary of economic services and products. Because the banking setting continues to vary, it’s price contemplating credit score unions as a viable various to conventional banks.
