Community Chair

For Credit Unions, branches represent an important channel to engage with the members. However, it is also one of the most expensive channel with high capital and operational costs. The location, utilities, staff and other expenses add up very quickly.

Here we are looking at the Net Income per Branch. Given that we do not have a breakdown of the income that is generated per branch from Call 5300 report, we are simply using the overall net income for a credit union and dividing it by the number of branches. It does not include the true net income for a branch especially when other channels such as call center, digital, etc. are playing an important role in generating new business and servicing existing members.

However, still the net income per branch for Credit Unions provides some interesting insights. Here we are looking at credit unions with assets greater than $500M. For these credit unions, the net income per branch ranges from  $1000 to $6M. It varies based on various factors including the asset size, number of members, number of branches, etc. of the credit unions.

Here are the Top 50 Credit Unions ( with more than $500M asset range) with the lowest Net Income Per Branch for the 2019-Q4.

RANK CREDIT UNION STATE URL NET INCOME PER BRANCH
FOR 2019 - Q4 ( IN $)
TOTAL ASSET ( IN MILLION $)
1 EVANGELICAL CHRISTIAN CA http://www.eccu.org -7,978,302.00 715.9
2 SANDIA LABORATORY NM http://www.slfcu.org -1,350,858.60 2,634.47
3 CITIZENS EQUITY FIRST IL http://www.cefcu.com -973,483.69 6,258.52
4 DFCU FINANCIAL MI http://www.dfcufinancial.com -334,985.00 4,903.18
5 FINANCIAL CENTER CA http://www.fccuburt.org -281,688.83 518.91
6 HAWAII STATE HI http://www.hawaiistatefcu.com -203,767.73 1,763.41
7 MUNICIPAL EMPL.CREDIT UNION OF BALT MD https://www.mecu.com -196,502.20 1,197.66
8 FRONTWAVE CA http://www.frontwavecu.com -133,276.64 877.46
9 SKYONE CA http://www.skyone.org -129,620.00 508.12
10 FORTERA TN http://forteracu.com -82,498.11 595.57
11 XCEED FINANCIAL CA https://www.xfcu.org -75,971.56 884.29
12 CREDIT HUMAN TX https://www.credithuman.com -71,579.82 3,210.47
13 ANDIGO IL http://www.andigo.org -68,707.62 850.1
14 AMERICAN EAGLE FINANCIAL CT http://www.americaneagle.org -59,302.95 2,045.64
15 WE FLORIDA FINANCIAL FL http://www.wefloridafinancial.com -58,415.75 512.72
16 BRIGHTSTAR FL http://www.bscu.org -58,152.29 518.45
17 SANTA CLARA COUNTY CA http://www.sccfcu.org -53,005.00 807.1
18 AMERICA'S CREDIT UNION, A WA http://www.youracu.org -43,110.07 570.39
19 CONNECTICUT STATE EMPLOYEES CT http://csecreditunion.com -28,671.86 1,930.93
20 MASS. INSTITUTE OF TECH. MA http://www.mitfcu.org -16,261.25 583.18
21 FIREFIGHTERS FIRST CA http://www.firefightersfirstcu.org -15,149.50 1,488.66
22 FOUNDERS SC https://www.foundersfcu.com -13,154.87 2,653.56
23 ERIE PA http://www.eriefcu.org -9,970.91 547.93
24 MEMBERS CHOICE TX http://www.mccu.com -8,341.00 609.03
25 ZEAL MI http://www.zealcreditunion.org -7,535.43 613.9
26 FIRST FINANCIAL NM http://www.ffnm.org -4,360.56 563.34
27 JEFFERSON FINANCIAL LA https://my.jeffersonfinancial.org/ -2,424.41 882.18
28 CORPORATE AMERICA FAMILY IL http://www.cafcu.org -1,689.55 613.67
29 EXCITE CA http://www.excitecu.org -266.33 513.82
30 SUN OH http://www.sunfederalcu.org 3,548.62 532.59
31 CHARTWAY VA https://www.chartway.com 6,647.74 2,173.64
32 GENERATIONS COMMUNITY TX http://www.mygenfcu.org 13,421.43 551.81
33 POLISH NATIONAL MA http://www.pncu.com 13,719.00 615.32
34 ABNB VA http://www.abnbfcu.org 14,977.44 650.92
35 ALOHA PACIFIC HI https://alohapacific.com 15,792.15 968.34
36 REV SC http://www.htfcu.org 19,686.56 645.93
37 RTN MA http://www.rtn.org 22,359.05 904.42
38 SHARONVIEW SC http://www.sharonview.org 23,035.37 1,627.13
39 MERRIMACK VALLEY MA http://www.mvcu.com 23,137.50 1,074.58
40 PEACH STATE GA http://www.peachstatefcu.org 25,530.42 516.84
41 NORTHROP GRUMMAN CA http://www.ngfcu.us 26,177.81 1,194.17
42 ATLANTIC REGIONAL ME http://atlanticfcu.com 26,812.00 748.76
43 GUARDIAN AL https://www.myguardiancu.com 26,971.80 574.06
44 COBALT IA http://www.cobaltcu.com 27,606.10 1,009.39
45 AVADIAN AL http://www.avadiancu.com 27,709.05 867.92
46 GREATER IOWA IA http://www.greateriowacu.org 28,888.38 537.72
47 NATIONAL INSTITUTES OF HEALTH MD http://www.nihfcu.org 29,282.71 669.34
48 ORANGE COUNTY'S CA http://www.orangecountyscu.org 29,431.30 1,757.98
49 FINANCIAL PLUS MI https://www.myfpcu.com 30,171.75 569.73
50 LA CAPITOL LA http://www.lacapfcu.org 30,654.00 512.69

 

Lower or negative net income per branch indicates that the Credit Union has been incurring more expenses than its total income, which is not a favorable situation. It will indicate the need to improve either income or expenses or both. There can be multiple reasons for this and we would love to hear your thoughts on some of the most frequent reasons.

Here are the Top 50 Credit Unions ( with more than $500M asset range) with the highest Net Income Per Branch for the 2019-Q4.

RANK CREDIT UNION STATE URL NET INCOME PER BRANCH
FOR 2019 - Q4 ( IN $)
TOTAL ASSET ( IN MILLION $)
1 ALLIANT IL http://www.alliantcreditunion.org 6,033,083.00 12,244.74
2 UNITED NATIONS NY http://www.unfcu.org 4,594,250.33 5,980.67
3 SCHLUMBERGER EMPLOYEES TX http://www.secu.slb.com 3,636,143.00 830.26
4 STAR ONE CA http://www.starone.org 2,191,429.00 9,073.67
5 MUNICIPAL NY http://www.nymcu.org 1,898,738.31 3,052.27
6 BANK FUND STAFF DC http://www.bfsfcu.org/ 1,683,017.25 5,188.50
7 UTILITIES EMPLOYEES PA http://www.uecu.org 1,647,716.00 1,240.52
8 POLICE & FIRE PA http://www.pffcu.org 1,616,499.60 5,628.62
9 F & A CA http://www.fafcu.org 1,545,361.00 1,752.79
10 IDB GLOBAL DC http://www.idbglobalfcu.org 1,472,289.00 586.63
11 STATE FARM IL http://www.statefarmfcu.com 1,366,798.80 4,289.61
12 STANFORD CA https://www.sfcu.org 1,237,696.50 2,942.16
13 GREENSTATE IA http://greenstate.org 1,216,640.55 5,757.17
14 DORT FINANCIAL MI http://dortonline.org 1,210,914.82 1,005.50
15 NASA MD http://www.nasafcu.com 1,180,913.85 3,110.21
16 BOEING EMPLOYEES WA http://www.becu.org 1,179,191.98 22,178.68
17 LOGIX CA http://www.logixbanking.com 1,135,719.35 6,294.78
18 VALLEY STRONG CA http://www.ksfcu.org 1,134,308.13 1,797.26
19 NAVY FEDERAL CREDIT UNION VA https://www.navyfcu.org/ 1,122,392.42 111,986.00
20 REDWOOD CA http://www.redwoodcu.org 1,020,229.79 4,989.06
21 HOUSTON POLICE TX http://www.hpcu.coop 922,880.00 751.41
22 DIGITAL MA http://www.dcu.org 911,340.61 9,361.09
23 DOW CHEMICAL EMPLOYEES' MI http://www.dcecu.org 893,580.00 1,766.99
24 ONPOINT COMMUNITY OR http://www.onpointcu.com 836,829.44 6,130.69
25 FREEDOM PA http://www.freedomcu.org 817,496.00 997.44
26 WINGS FINANCIAL MN http://www.wingsfinancial.com 805,247.21 5,633.12
27 CREDIT UNION OF DENVER CO http://www.cudenver.com 795,390.33 885.47
28 ELEMENTS FINANCIAL IN http://www.elements.org 793,136.67 1,687.71
29 HUDSON VALLEY NY http://www.hvcu.org 768,205.48 5,351.29
30 N C P D NY http://ncpdfcu.org 765,409.00 764.86
31 SCHOOLSFIRST CA https://www.schoolsfirstfcu.org 715,273.27 16,761.72
32 CONNEXUS WI http://www.connexuscu.org 713,433.83 2,675.63
33 ESL NY http://esl.org 704,881.77 6,813.67
34 HUGHES AZ http://www.hughesfcu.org 673,708.12 1,394.81
35 TECHNOLOGY CA http://www.techcu.com 664,616.80 3,045.58
36 MERCK EMPLOYEES NJ http://www.merckcu.com 657,543.60 1,907.99
37 TOWER MD http://towerfcu.org 655,312.59 3,255.10
38 NORTHWEST VA http://www.nwfcu.org 643,494.67 3,598.36
39 STATE DEPARTMENT VA http://www.sdfcu.org 638,017.17 2,166.05
40 LOS ANGELES POLICE CA https://www.lapfcu.org 623,809.25 980.22
41 LAKE MICHIGAN MI http://www.lmcu.org 620,963.89 6,863.40
42 SUNMARK NY http://www.sunmarkfcu.org 597,947.23 740.22
43 EGLIN FL https://www.eglinfcu.org 593,697.33 2,051.19
44 VIRGINIA CREDIT UNION, INC., VA http://www.vacu.org 588,371.94 3,729.41
45 OREGON COMMUNITY OR http://www.myoccu.org 580,802.00 1,889.38
46 DELTA COMMUNITY GA https://www.deltacommunitycu.com 572,439.31 6,051.86
47 GESA WA http://www.gesa.com 557,752.83 3,684.58
48 TEXANS TX http://www.texanscu.org 540,403.92 1,606.02
49 IDAHO CENTRAL ID http://www.iccu.com 518,508.70 5,070.73
50 DUPACO COMMUNITY IA http://www.dupaco.com 518,215.50 1,888.19

 

The higher the net income, the more the profits, which means that the organization can now invest these funds further, or utilize them in activities which are crucial for growth and sustainability. 

Credit Unions should however view the net income or profit margins in light of the distinct strategy which has been employed by them. Some Credit Unions might employ the profits in facilities for members like low rates of lending, no fees, a high rate of deposits, in which case, the net profits might be lower. 

CONCLUSION

As you compare the profit margin or net income of different branches, it is important to take into account the asset size, factors like loans and deposits per employee, operational expenses per employee, etc, as they have an impact on the total expense and will vary under different circumstances.

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