Three credit unions were among the national leaders in opening new credit card accounts in 2011 with colleges or universities with which they have card-issuing agreements, a new report says.
According to an annual report prepared for Congress by the Consumer Financial Protection Bureau and released last month, the leader among both credit union and non-credit union affinity card issuers was the 43,000-member, $276 million University of Illinois Employees Credit Union, which opened 3,452 new card accounts in its affinity program with the University of Illinois Alumni Association in 2011.
The credit union had opened 779 new accounts under the agreement in 2010, when it was ranked 5th in the nation in opening new accounts under affinity deals with colleges.
The 62,000 -member, $746 million Purdue Federal Credit Union held the spot currently occupied by UIECU last year, but fell to third this year, opening 2,877 accounts under its affinity agreement with the Purdue Alumni Association.
Last year, PFCU opened 2,642 card accounts under the deal.
Michigan State University Federal Credit Union came in fifth on the list, opening 1,115 new card accounts under its contract with Michigan State University. Last year it was ranked 24th and opened 302 accounts, the report said.
The annual report was mandated by the Credit Card Accountability Responsibility and Disclosure Act of 2009 and had been formerly assembled by the Federal Reserve.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.