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U.S. credit unions - statistics & facts

A credit union is a not-for-profit financial institution owned and controlled by its members. It works in many ways like a bank by providing loans and holding deposits of customers, but members of credit unions are attracted to the generally lower fees, higher savings rates, and the ability to influence the organization. Historically, credit unions were not open to everyone, but rather limited to a certain group of people, such as employees of a company, a state department in a county, or a certain industry for example, but these restrictions loosened in more recent years and membership became available to larger groups of people. The total number of members of credit unions in the United States grew steadily during the last eight years and reached over 126 million in 2020.

Which is the largest credit union in the United States?

There are over 5,400 credit unions in the United States. The largest is Navy Federal Credit Union, in terms of total assets, number of members, and customer deposits. Navy Federal was founded in 1933 as the credit union for the employees of the Navy Department of the District of Columbia. Today, the credit union is open to all employees of all branches of the military, veterans, and Department of Defense employees as well as their family members, and their total assets grew continuously and reached around 135.8 billion U.S. dollars in 2020.

The size of U.S. credit unions

Credit unions play an important role for consumer banking in the United States as around one third of the country’s population has a credit union membership. The number of credit unions decreased each year since 2013, but the total assets of credit unions in the country increased annually during the same period, showing that the size of credit unions grew during this period. The value of credit union assets was around 1.88 trillion U.S. dollars in 2020.

Key figures

The most important key figures provide you with a compact summary of the topic of "Credit unions in the U.S. " and take you straight to the corresponding statistics.

Members

Loans and deposits

Assets

Interesting statistics

In the following 5 chapters, you will quickly find the 23 most important statistics relating to "Credit unions in the U.S. ".

Credit unions in the United States

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U.S. credit unions - statistics & facts

A credit union is a not-for-profit financial institution owned and controlled by its members. It works in many ways like a bank by providing loans and holding deposits of customers, but members of credit unions are attracted to the generally lower fees, higher savings rates, and the ability to influence the organization. Historically, credit unions were not open to everyone, but rather limited to a certain group of people, such as employees of a company, a state department in a county, or a certain industry for example, but these restrictions loosened in more recent years and membership became available to larger groups of people. The total number of members of credit unions in the United States grew steadily during the last eight years and reached over 126 million in 2020.

Which is the largest credit union in the United States?

There are over 5,400 credit unions in the United States. The largest is Navy Federal Credit Union, in terms of total assets, number of members, and customer deposits. Navy Federal was founded in 1933 as the credit union for the employees of the Navy Department of the District of Columbia. Today, the credit union is open to all employees of all branches of the military, veterans, and Department of Defense employees as well as their family members, and their total assets grew continuously and reached around 135.8 billion U.S. dollars in 2020.

The size of U.S. credit unions

Credit unions play an important role for consumer banking in the United States as around one third of the country’s population has a credit union membership. The number of credit unions decreased each year since 2013, but the total assets of credit unions in the country increased annually during the same period, showing that the size of credit unions grew during this period. The value of credit union assets was around 1.88 trillion U.S. dollars in 2020.

Interesting statistics

In the following 5 chapters, you will quickly find the 23 most important statistics relating to "Credit unions in the U.S. ".

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