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Financial Industry

The Most Popular Credit Union In Every State

Credit unions have been a staple of American society since the 20th century. See which credit union is most popular in every state.

Articles by Sebastian Rollén

By Sebastian Rollén
Quantitative Investing Associate, Betterment  |  Published: August 22, 2019

Credit unions are an important facet of American life, totaling more than 5,000 in number.

Credit unions differ from banks in a few key ways: they are not-for-profit, member owned, and can usually pay a higher interest on deposits.

What’s more American than apple pie? The answer might just be: the credit union.

While the honor of the first credit union goes to Germany, the U.S. is now undoubtedly the home to the largest collection of credit union members worldwide, with over 117 million of the world’s 260 million.

The number of nation-wide credit union members has been growing steadily for decades, but accelerated in the wake of the Great Financial Crisis of 2008, possibly signalling that consumer trust in traditional banks is waning.

Indeed, one study from 2014 showed that Americans are twice as likely to find a credit union trustworthy as compared to a big, national bank.

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What are some differences between credit unions and banks?

One major way that credit unions differ from traditional banks is by being member-owned and not-for-profit. Since a union doesn’t have to maximize earnings for shareholders like a traditional bank, they can often pay a higher interest rate on deposits.

Even within the U.S., credit unions range from small, local unions with fewer than 100 members, to large, multi-state organizations with millions of members. Despite the range in members, this may not translate to the number physical locations available to consumers: big banks typically have more branches than credit unions, many of which are regional.

Our Methodology

To find the largest credit union in each state, we analyzed the quarterly dataset released by the National Credit Union Administration. There’s a number of data-points in the report that could be used to rank the unions–total deposits, the number of branches, the number of credit union members, and so on. We decided to use the last of these, the number of credit union members, and then aggregated the data by state.

Below, you can find the largest credit union in your state, either on the map or in the interactive table.

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Name State Number of Members Number of Branches
Navy Federal Credit Union Virginia 8,446,032 336
State Employees’ North Carolina 2,403,404 266
Boeing Employees Washington 1,183,429 57
The Golden 1 California 1,021,799 73
America First Utah 1,021,231 128
Suncoast Florida 826,311 68
Randolph-Brooks Texas 823,790 62
Digital Massachusetts 820,869 23
Alaska Usa Alaska 668,735 74
Municipal New York 588,059 22
Pennsylvania State Employees Pennsylvania 455,685 25
Alliant Illinois 452,560 2
Redstone Alabama 437,238 33
Delta Community Georgia 394,335 29
Wright-Patt Credit Union, Inc. Ohio 386,390 32
Tinker Oklahoma 386,276 32
Onpoint Community Oregon 367,166 31
Lake Michigan Michigan 356,210 52
Idaho Central Idaho 355,950 36
Connexus Wisconsin 347,680 11
Ent Colorado 347,312 34
Desert Financial Arizona 336,544 45
First Community Missouri 323,632 37
Teachers Indiana 300,361 54
Service New Hampshire 277,753 51
Wings Financial Minnesota 268,731 28
State Employees Cu Of Maryland, Inc Maryland 260,786 22
CommunityAmerica Kansas 243,395 33
Keesler Mississippi 233,868 32
Veridian Iowa 229,588 31
Eastman Tennessee 228,017 29
Founders South Carolina 219,484 31
Nusenda New Mexico 202,533 19
Affinity New Jersey 172,847 22
American Eagle Financial Connecticut 146,064 18
Barksdale Louisiana 131,139 25
HawaiiUSA Hawaii 127,458 15
Pawtucket Rhode Island 118,725 16
Arkansas Arkansas 106,680 15
Commonwealth Kentucky 104,553 15
Centris Nebraska 103,044 11
New England Vermont 89,716 9
Blue Wyoming 84,123 14
One Nevada Credit Union Nevada 75,937 14
Black Hills South Dakota 67,359 16
Del-One Delaware 67,197 12
Whitefish Credit Union Association Montana 56,040 7
First Community North Dakota 43,895 28
Fairmont West Virginia 40,963 9
Town & Country Maine 39,059 6

 

Data Source: National Credit Union Administration.

Like a credit union, Betterment’s customer centric approach is designed to help you maximize your cash.

Betterment acts as a fiduciary, meaning that we are legally required to act in your financial best interests.

Additionally, Betterment’s investment platform charges based on assets under management, meaning that our products are aligned with our customers’ needs–we do well when our customers’ assets grow.

Betterment also offers other unique cash-management features to help you reach your financial goals. Our cash-analysis tool analyzes your spending pattern in your linked checking account to predict how much cash you will need for the next few weeks.

Our two-way sweep feature will even automate the money-movement process, ensuring that you have cash back in your checking account when you need it.

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