The State of Credit Unions 2017In the financial services universe, there is no shortage of players battling for consumer attention and share of wallet.

So how do credit unions stack up in a pack filled with heavy-hitting banks and aggressive online lenders? Review our latest findings, which reveal insights and stats on credit union members as well as how credit unions are faring on various loan products in comparison with the competition.

Report

Credit Union Member SnapshotFrom Traditionalist to Gen Z

Silent Age 70+

Average VantageScore® 752 725 683 659 639

Average number of credit cards

3.38 3.71 3.37 2.64 1.50

Average credit card balance

$5,493 $8,280 $8,650 $4,925 $1,407

Average revolving utilization

18% 30% 39% 38% 40%

Average total debt $19,848 $32,774 $37,351 $28,454 $9,954

Average number of retail cards

2.58 2.86 2.72 2.20 1.59

Boomer Age 50–70

Gen X 35–49

Gen Y Age 21–34

Gen Z Age 18–20

While 25% of U.S. consumers have one or more credit union tradelines on their credit file, there is a huge opportunity to build relationships with millennials and Gen Z. Currently, only 20% of those with a credit union trade on file are millennials and only 1% are Gen Z.

Concentration of Credit Union Consumers Across the Country

Highest Concentration

Lowest Concentration

UtahAlaska Idaho Washington Hawaii

New JerseyWest Virginia Arkansas Mississippi Kentucky

55.8% 51.4% 43.1% 41.0% 38.2%

10.8% 14.1% 15.0% 15.4% 17.3%

Credit Union Member vs. Non-Credit Union Member

Consumers with 1+ CU trades

701 Average VantageScore® 665

3.35Average number of

credit cards2.90

$7,388 Average credit card balance $5,613

0.35Average number of trades

currently past due0.40

$31,626 Average total debt $20,820

Consumers with 0 CU trades

Overall, consumers with credit unions have:

• Higher risk scores.• Higher credit card

balances and utilization.

• Higher total debt (excluding mortgage).

• Lower delinquency levels.

Credit Unions vs. CompetitorsPersonal Loans

While credit unions have seen some growth in this space (up in 2 years)

— and have expressed interest in growing their personal loan business — the online

lenders and finance companies own this universe with share.51%

2%

Personal Loan OriginationsQ1 2015

Personal Loan OriginationsQ1 2017

44%

24% Credit Union

Bank

8% 4%Credit Union

Bank

Finance

Retail

Other2%

Finance

Retail

Other2%

26%

21% 16%51%

Credit Unions vs. CompetitorsCredit Card

Banks own this space, but credit unions have seen growth. Credit unions

experienced an increase in card originations from Q1 2015 to Q1 2017,

and total credit limits on newly originated cards from that same period approached

in Q1 2017.

18%

$100B

Credit Card Originations — Q1 2017

Bank — 96%

Credit Union — 4%

Credit Card Originations — Q1 2015

Bank — 97%

Credit Union — 3%

Credit Card Originations — Q1 2017

Bank — 96%

Credit Union — 4%

Credit Card Originations — Q1 2015

Bank — 97%

Credit Union — 3%

Credit Unions vs. CompetitorsMortgage

Credit unions have seen mortgage market share rise from Q1 2015 to

Q1 2017. Banks have seen a decline in that same period as online lenders start to

take away share, offering a more digital experience.

7%

Mortgage Originations — Q1 2017

Other

50%

33%

13%5%

Bank Credit Union

Finance

Mortgage Originations — Q1 2015

Other

53%37%

3%6%

Bank Credit Union

Finance

Credit Unions vs. Competitors

Credit unions have taken an edge in the auto space. Their auto originations have

increased from accounts in Q1 2015 to in Q1 2017 — a

25% increase.

1.54M 1.93M

Auto

Auto OriginationsQ1 2015

26%

23% Credit Union

Bank

21%

Captive

Finance

Other1%

Auto OriginationsQ1 2017

25%

28% Credit Union

Bank

21%

Captive

Finance

Other1%

25%29%

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