A Closer Look at Credit Unions Adding Select Employee Groups in 2020
Which Credit Unions added the most SEGs in 2020? Exploring interactive scatterplots can serve as a roadmap for expanding Field of Membership.
Photo by Andrew Moca on Unsplash
Our recent article, which analyzed Credit Unions' 2020 SEG Additions provided insight into the types of Select Employee Groups (SEGs) federal credit unions have added recently. Now, let's talk about the credit unions that were able to add SEGs in the year 2020. It's important to note that asset size is a significant limiting factor as to how much a credit union is able to expand its Field of Membership. To address this, we've split our interactive analysis into three asset categories:
Small: Assets less than $100 millionMedium: Assets between $100 million and $500 million
Large: Assets greater than $500 million
These asset-size buckets are where we found comparable groups within the data. For each of these size ranges, we determined which credit unions had business development teams that were performing exceptionally in comparison to their available resources. We accomplished this by taking a closer look at the number of groups added and the total potential members added to their fields of membership. Asset sizes were determined by averaging the assets a credit union had at the time of their SEG additions and may not necessarily reflect the credit union's current asset size.
Small Credit Unions
Adding Groups
Credit unions with less than $100 million in assets only added one to three SEGs on average during the year 2020. Two credit unions of this size were able to add more than 10 groups: ACMG (Solvay, NY) who added 14 groups and Espeeco (Bakersfield, CA) who added 11 groups.
Adding Members
The middle 50% of the resulting field of membership expansions from these SEG additions ranged between 25 and 350 potential members. There's one credit union that greatly out-performed their peers by expanding their field of membership by 27,904 potential members and that is Clean Energy (Englewood, CO).
Taking the number and size of the SEGs into consideration, these are the top 10 “small” credit unions achieving exceptional FOM potential:
| Name | Headquarters | Average Assets | # of Groups | # of Members |
| ACMG | Solvay, NY | $77,243,697 | 14 | 871 |
| Clean Energy | Englewood, CO | $16,835,738 | 7 | 27,904 |
| ElecTel Cooperative | Raleigh, NC | $55,650,001 | 1 | 11,000 |
| Espeeco | Bakersfield, CA | $10,177,621 | 11 | 114 |
| PRR South Fork | South Fork, PA | $48,449,059 | 8 | 2,267 |
| Southcoast | New Bedford, MA | $52,380,483 | 2 | 3,800 |
| St. Thomas | St. Thomas, VI | $73,357,331 | 9 | 168 |
| Valex | Alexandria, LA | $31,128,461 | 9 | 73 |
| Victoria Teachers | Victoria, TX | $15,395,515 | 1 | 5,265 |
| Welcome | Morrisville, NC | $90,584,447 | 4 | 3,913 |
Medium Credit Unions
Adding Groups
Credit unions with assets between $100 million and $500 million added 3 to 12 SEGs on average during the year 2020. One credit union stood out from the rest: AOD (Bynum, AL) who added 210 groups.
Adding Members
The middle 50% of the resulting field of membership expansions from these SEG additions ranged between 155 and 2,730 potential members. There's one credit union that greatly out-performed their peers by expanding their field of membership by 6,639,325 potential members and that is Beehive (Rexburg, ID).
Taking the number and size of the SEGs into consideration, these are the top 10 “medium” credit unions achieving exceptional FOM potential:
| Name | Headquarters | Average Assets | # of Groups | # of Members |
| AOD | Bynum, AL | $367,983,039 | 210 | 4,883 |
| Beehive | Rexburg, ID | $375,681,469 | 1 | 6,639,325 |
| Fort Financial | Fort Wayne, IN | $271,427,656 | 1 | 66,438 |
| Meridian Trust | Cheyenne, WY | $463,969,706 | 64 | 6,247 |
| Parsons | Pasadena, CA | $253,721,694 | 1 | 279,897 |
| Railroad & Industrial | Tampa, FL | $396,799,273 | 74 | 9,000 |
| Service 1st | Danville, PA | $482,534,005 | 95 | 1,154 |
| Signature | Alexandria, VA | $341,447,021 | 3 | 189,337 |
| SRI |
Menlo Park, CA |
$112,198,095 | 1 | 63,918 |
| WyHy | Cheyenne, WY | $266,490,750 | 1 | 288,747 |
Large Credit Unions
Adding Groups
Credit unions with over $500 million in assets added nine to 32 SEGs on average during the year 2020. One credit union did particularly well at adding groups and that was Empower (Syracuse, NY) who added 909 groups throughout the year.
Adding Members
The middle 50% of the resulting field of membership expansions from these SEG additions ranged between 326 and 14,133 potential members. There's one credit union that greatly out-performed their peers by expanding their field of membership by 5,048,305 potential members and that is Notre Dame (Notre Dame, IN).
Taking the number and size of the SEGs into consideration, these are the top 10 “large” credit unions achieving exceptional FOM potential:
| Name | Headquarters | Average Assets | # of Groups | # of Members |
| Empower | Syracuse, NY | $2,259,325,028 | 909 | 14,690 |
| Evansville Teachers | Evansville, IN | $2,171,053,799 | 560 | 3,012 |
| Farmers Insurance | Burbank, CA | $1,251,114,027 | 1 | 293,834 |
| Franklin Mint | Chadds Ford, PA | $1,379,718,561 | 543 | 6,213 |
| HawaiiUSA | Honolulu, HI | $1,950,033,453 | 415 | 1,315 |
| Members 1st | Mechanicsburg, PA | $5,284,957,323 | 548 | 42,919 |
| Notre Dame | Notre Dame, IN | $837,041,248 | 167 | 5,048,305 |
| Sandia Laboratory | Albuquerque, NM | $2,871,469,896 | 55 | 294,543 |
| SkyOne | Hawthorne, CA | $572,620,446 | 22 | 988,305 |
| USF | Tampa, FL | $831,002,463 | 4 | 307,193 |
Expanding YOUR Field of Membership
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