A credit union market share growth initiative was announced and launched at last year’s League annual meeting. With the financial services landscape changing as a result of economic conditions, credit unions continue to have the best opportunity they have had in many years to increase market share.
The League has been developing market share data for this initiative and will continue to follow up with credit unions regarding that data. This report presents deposit market share for commercial banks, credit unions and thrifts for Indiana counties. We will continue to track this information, share it with you, and update it annually. By knowing the market share status in the counties where your credit union does business, your organization can be positioned to take advantage of these evolving conditions and build membership. The League offers an array of support services to assist credit unions in pursuing more market share.
As part of its follow-up with credit unions on this initiative, the League is also providing more detailed county-based information, with that information listing the market share of every depository institution in the county where your credit union is headquartered. As is shown below, credit unions held 14% of deposits for all financial institutions doing business in Indiana as of June 2009. This is up from 13% as of June 2008. THE INITIAL GOAL IS TO REACH 20% MARKET SHARE WITHIN FIVE YEARS OF LAUNCHING THIS INITIATIVE (2014). The following pages provide summary data for each Indiana county.
About the data:
How current is it?
The data in this report is current as of June 2009 reporting. It is updated annually. Data for mid-year 2010 will be available later this year.
Where does it come from?
Credit union data comes from 5300 reports and credit unions providing the deposits by branch detail. Bank and Thrift data comes from comparable call reports for those industries. In June of each year, banks and thrifts report deposits by branch.
Credit unions’ county presence: For those credit unions that submitted deposit detail by branch, each branch was allocated to the county in which it is located. For those credit unions that did not submit detailed information and for those credit unions with only one location, all deposits for the credit union are in the totals of the county in which it is headquartered.
For further details about the data or to discuss options for its use at your credit union, contact League VP Consulting & Education Joe Guilfoy at (800) 285-5300, ext. 5313 or email@example.com.