WASHINGTON––Credit unions in Alaska, Idaho, and Washington lead the credit union industry in second quarter deposit market share, according to data and analysis released by Callahan & Associates.
The company reported that recent data from the FDIC and the NCUA show that as of June 2016 Alaska’s credit unions have a solid 29.1% deposit market share and operate 104 branches, or 45% of the state’s financial institution retail locations.
Credit unions in 28 states reported double-digit market share. The top 10 are listed below
As of June 2016 there were 21,000 credit union branches across the country compared to nearly 92,000 bank branches. Despite representing only 18.8 % of total branches in the United States, credit unions have branches in 67% of counties across the country.
Bank branches accounted for 80.7% of all branches that were closed over the past year. In fact, 98.9% of all counties in the United States experienced more bank branch closures than credit union branch closures in that time period.
Credit unions added 183 net new branches in the past year and total deposit market share for credit unions was 8.7% in 2Q 2016, up one basis point from the same quarter in 2015.