Friday, February 7, 2014

Business Share Accounts, Q3 2013

There were 1,737 credit unions that reported holding business share accounts, as of September 30, 2013. These credit unions held approximately $15.85 billion in business accounts.

Twenty-nine credit unions reported holding $100 million or more in business share accounts.

Evangelical Christian CU (Brea, CA) held the largest dollar volume at almost $710 million in business accounts. Rounding out the top five are Mountain America (West Jordan, UT) with $415.9 million, American First (Riverdale, UT) with $389.5 million, Alaska USA (Anchorage, AK) with $265.5 million, and Bethpage (Bethpage, NY) with $249.6 million. Below is a table listing the top 25 credit unions with regard to dollar volume of business deposits.

However for most credit unions, business share accounts represent a very small portion of their total deposit base. The median business share account to total deposit ratio was 1.34 percent and 75 percent of all credit unions have a business share account to total deposit ratio below 3.19 percent.

But for some credit unions, business deposits represent a sizable portion of their total deposit base. Twenty-one credit unions reported that business accounts equalled at least 20 percent of their total deposit base.

Northeastern Engineers FCU (Richmond, NY) had the highest concentration of business deposits at almost 90 percent. Evangelical Christian CU was second with approximately 87 percent of its deposits in business share accounts.

The following table lists the 25 credit unions with the greatest reliance on business deposits relative to their total deposits.

Interestingly, 449 credit unions that reported holding business deposits do not report any outstanding member business loans. While most of these credit unions are reporting very small business deposit holdings, nine credit unions had at least $10 million in business deposits as of the end of the third quarter of 2013.


  1. Evangelical Christian CU is doing a fine job. And so is the CEO. 12-2008 1099 total CEO compensation reported totals: $939,442. True to form the not for profit Evangelical CU reported in 2009 NEGATIVE income of $2,781,166. 2010 NEGATIVE income of $15,849,179. 2011 NEGATIVE income of $20,572,542. 2012 POSITIVE $2,398,730. 2013 POSITIVE $5,073,635. Keith for this CEO does PTL stand for Praise The Lord, or Pass The Loot? The Proposed Risked Based Capital Ratio for Evangelical drops to 6.80% for a rating of UNDERCAPITALIZED. Properly translated this means: Jesus Saves & Moses Invests.

  2. Evangelical, texans, aea, keys, arrowhead, wescom, america first(etc)= forbearance.

    1. Do you know how to use the Cap Lock key?

  3. I won't defend CEO salary but it could be related to some kind of deferred comp program--don't know and don't really care. All the CUs listed are surviving, due to forebearance yes. that is better than a write off and what do you care, it is the credit unions of America's money, not yours or the taxpayers'.

  4. Your are subsidizing the propping up by slamming your members with share rates below where they should be. You are also subsidizing with fees higher than they should be. To pretend otherwise is delusional.
    What's more, the corporate bailout IS a USTreasury and therefore taxpayer subsidized bailout.
    Even most credit unions know this.
    Finally, some of these and other credit unions not listed WILL be resolved someday and the NCUSIF does not have the reserves to deal with it and THEN it will be a bailout as well.
    "We are going to return it to the members". Love it.
    Why do we care?
    We don't. But understand that when you say it's better than a write off you are assuming they will recover...

  5. When a poster says "negative net income"... is the the newbie financial equivalent of a "net loss"?



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