Top 25 Credit Unions
We have a confession to make... the staff here at workforacreditunion.com loves college football. We love the rivalries, the tradition, and the excitement surrounding each big game.
Starting in late October every year, the College Football Playoff Selection Committee begins meeting weekly to release their list of the "Top 25" teams in college football. They continue to meet until the week after all the major conferences have played their championship game, which is when they release their final rankings for the year. The top four teams in that final list will get an opportunity to play for a national championship.
Needless to say, there is almost always controversy surrounding the rankings - especially which teams are selected as the top four. While the rankings are largely based off of quantitative data such as wins/losses and strength of schedule, the committee can select teams they feel are better (or worse!) than the data indicates. This subjectivity is what causes controversy among those of us who love college football - your team can have a perfect season and still not make it into the playoff.
That said, having a little controversy probably does help keep things exciting and interesting.
We wanted to come up with our own "Top 25" here at workforacreditunion.com - the Top 25 Credit Unions in the United States. While we acknowledge that a list of the Top 25 Credit Unions may not be nearly as exciting to some as a weekly release of the top 25 college football teams, we think it's just as interesting (perhaps we're biased?).
Don't worry - we aren't creating a Credit Union Playoff Selection Committee. There is no bowl game or national championship on the line. There isn't even a trophy to be won. There is no need to block out your New Year's Eve.
What their is, however, is quantitative data from the National Credit Union Administration (NCUA) for us to analyze.
The only subjectivity, or perhaps lack thereof, involved in our top 25 selection is what to base it off of. There is almost an unlimited number of options we could select - number of members, number of employees, number of branches etc...
To keep it simple though, our top 25 list is based strictly off of total assets.
We grabbed the latest NCUA quarterly call reports from here (june 2015 as of this writing) and began digging in.
The zip file the NCUA provides contains several text files once extracted. Sorting through the various files - FS220, FS220A, FS220B etc... can be quite daunting. We grabbed "ACCT_10" data (total assets) from FS220A, "ACCT_891" data (credit union website) from FS220D, and "CU_Name" data from FOICU, and combined them into one spreadsheet.
(Side note: If you ever find yourself digging through raw NCUA quarterly report data, we'd highly recommend having a copy of AcctDesc handy to help maintain your sanity. We lost ours shortly before discovering that AcctDesc was the plain english "decoder ring" hidden deep inside the cereal bo...err NCUA zip file.)
After some sorting, we had our Top 25 Credit Unions by Asset Size list. Here they are:
1. Navy Federal - $69,877,257,646
2. State Employees' - $30,835,643,795
3. Pentagon Federal (PENFED) - $18,643,417,689
4. Boeing Employees - $13,604,431,278
5. SchoolsFirst - $11,410,871,567
6. The Golden 1 - $9,304,748,153
7. Security Service - $8,777,758,999
8. Alliant - $8,373,648,905
9. First Technology - $7,954,472,600
10. Star One - $7,589,668,325
11. San Diego County - $6,924,333,619
12. America First - $6,882,470,913
13. Suncoast - $6,536,445,714
14. Randolph-Brooks - $6,510,956,836
15. Digital - $6,418,678,612
16. Bethpage - $6,134,484,792
17. Alaska USA - $5,909,657,525
18. American Airlines - $5,800,324,543
19. Vystar - $5,524,812,957
20. ESL - $5,385,397,684
21. Citizens Equity First - $5,205,341,349
22. Teachers - $5,205,119,982
23. Delta Community - $4,830,906,173
24. Mountain America - $4,622,740,987
25. Patelco - $4,412,386,800
The above list includes the Top 25 Credit Unions in the United States by total assets. As a reminder, it is based off of the June 2015 quarterly call reports provided by the NCUA.
All data is from the NCUA, so while we wish there'd be all kinds of commentators debating our Top 25 list and who should be where, we're afraid there is no controversy or subjectivity here.
It is safe to say the credit unions on the list above are some of the largest employers in the credit union industry. We hope to break down the number of credit union jobs in a future blog post.
If you'd like to search for credit union jobs using workforacreditunion.com, click here.