5 Ways Patelco Reached $5 Billion

For an industry that lost 1,000 credit unions between 2011 and 2015, hitting the billion-dollar asset mark is a daunting goal. Just 8% of the nation’s 6,021 remaining credit unions have assets of more than $500 million, according to the NCUA. Only 23 have assets over $5 billion and they control roughly a quarter of the entire industry’s assets.

But some credit unions are hitting new high-water marks. New Berlin, Wisc.-based Landmark Credit Union hit $3 billion in assets in May, for example, making it the first in the state to do so. On June 1, Duluth, Ga.-based Georgia United Credit Union announced records assets too, crossing the $1 billion threshold and joining the ranks of just 250 other credit unions in the billion dollar club. Georgia United has 151,000 members.