Airline credit unions remain strong after 9-11

<p>WASHINGTON-Airline based credit unions have always been at the top of the charts for stats. But after three commercial airline crashes by terrorists on September 11 and an economic down turn, how are they holding up? Very well, according to creditunions.com supported by Callahan & Associates. Just over two quarters since 9-11, American Airlines Federal Credit Union’s growth remains high. Callahan’s found that six-month figures show asset growth at 5.7%, share growth at 6.2%, and loan growth at 2.8%. Additionally, American Airlines FCU made an annualized $480,000 for every one of its employees, while the average income per employee at 33 credit unions with more than $1 billion in assets was $270,000. (There are more than 33 $1 billion CUs, but Callahan’s only had data on 33 at press time.) Averaging three major airline credit unions-American Airlines, Delta Employees, and Boeing Employees-demonstrates that these airline credit unions remain highly competitive. When the three are combined asset growth jumps to 6.1%, share growth rises to 7.0%, and loan growth increases to 4.4%. Income for the credit union per credit union employee averaged $399,000. [email protected]</p>