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News Now

CU System
More CUs than ever report in-school branches
MADISON, Wis. (2/18/11)--The number of credit unions reporting in-school branches to the Credit Union National Association (CUNA) rose significantly in 2010. As of Dec. 31, about 246 credit unions nationwide maintained branch offices in 936 schools, all of them student-run to some degree. The numbers reflect increases from 2009 of 6% (for credit unions), 14% (branches), and 10% (states). “Serving members in the workplace is a long-standing credit union specialty,” said CUNA President/CEO Bill Cheney. “And serving youth in the K-12 ‘workplace’ is a sterling example of credit union uniqueness.” As good as these numbers are, they don’t paint the whole picture, Cheney added. National Credit Union Administration third-quarter 2010 data show that 348 credit unions had branches in schools. But that record contains no information about the number or grade level of youth branches. That’s why CUNA said its online directory is so important. “It gives us the detail to prove our philosophy of people helping people,” Cheney said, “And with contact information, the directory also serves as a resource for credit unions that want to make it possible for young people to develop a savings habit. Currently only three of four credit unions with in-school branches report to CUNA. Let’s make that 100%.” Here’s how reported in-school branches break down by venue for year-end 2010:
* Elementary schools, 397; * Middle schools, 103; * High schools, 390; and * Other (K-12 school, youth center, college, special needs), 46.
The top states for in-school branches are:
* Michigan, 58 credit unions, 370 schools; * Wisconsin, 33 credit unions, 86 schools; * Virginia, 16 credit unions, 77 schools; * Texas, 19 credit unions, 54 schools; * Florida, five credit unions, 46 schools; * New York, 10 credit unions, 36 schools; * Oregon, six credit unions, 31 schools; * Massachusetts, five credit unions, 26 schools; * Washington, eight credit unions, 25 schools; and * Pennsylvania, 10 credit unions, 22 schools.
The credit unions having the most in-school branches are:
* CP FCU, Jackson, Mich., 50 schools; * Apple FCU, Fairfax, Va., 34 schools; * Suncoast Schools FCU, Tampa, Fla., 32 schools; and * Michigan First CU, Lathrup Village, Mich., 31 schools.
Credit unions can report their in-school branches online. For the full state-by-state in-school branch summary, use the link.
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