SOUTHERN CALIFORNIA
2Q 2021 Credit Union Snapshot

132 Locally Headquartered Credit Unions

Four counties include: Los Angeles, Orange, San Bernardino, and Riverside
 

Members: 5.4 million (2 percent increase)

• 103,000 new members
• Hit a record
• Up 57 percent from 3.4 million in 2006 (yearly membership has almost always risen from 2006 – 2021)
  
  
   

Total Loans: $59 billion (0 percent change)

• Remained at a record ($59 billion)
• Increased 111 percent from $28 billion in 2012 (prior historical peak was $36 billion in 2008)
• 60 percent loan-to-deposit ratio (loaned out)
• *Percentage increases and/or decreases represent dollar amount changes
• **A small portion of total loans may be through “loan participations”
• ***Total loans do not include the much smaller sub-categories of: a) personal loans (including signature, secured, unsecured, line of credit, and emergency); b) “other” vehicle loans (including motorcycles, watercrafts, motor homes, trailers, boats, all-terrain vehicles, and utility task vehicles); and c) student loans
  
  
   

• First-mortgages: 4 percent increase
• Hit a record of $32 billion
• Increased 115 percent from $14.9 billion in 2013 (prior historical peak was $17.2 billion in 2008)
   
• HELOCs/home equity loans (combined category): -18 percent decrease
• Declined from an intermittent peak ($4.8 billion in 2019) to $3.6 billion (not seen since before 2006)
• Record high was $6.2 billion in 2008
   
• New auto loans: -12 percent decrease
• Declined from a record ($7.3 billion in 2019) to $6.3 billion (not seen since 2018)
• Increased 309 percent from $1.5 billion in 2012 (prior historical peak was $5.2 billion in 2007)
   
• Used auto loans: 2 percent increase
• Hit a record of $9.7 billion
• Increased 217 percent from $3.1 billion in 2011 (prior historical peak was $4.2 billion in 2007)
   
• Credit card lending: -7 percent decrease
• Declined from a record ($2.7 billion in 2019) to $2.4 billion (not seen since 2017)
• Increased 38 percent from $1.7 billion in 2011 (prior historical peak was $1.8 billion in 2010)
   
• Business loans: 11 percent increase
• Reached $6.5 billion (includes landlord real estate loans)
• Category has fluctuated greatly between 2006 – 2021 from $3.1 billion – $6.5 billion

Total Deposits: $97 billion (17 percent increase)

• Increased 100 percent from $48.5 billion in 2014
• Hit a record (category has always risen from 2006 – 2021)
• ($111 billion in assets)
• *Percentage increases and/or decreases represent dollar amount changes
  
  
   

• Checking accounts (share drafts): 55 percent increase
• Hit a record of $19.1 billion
• Increased 408 percent from $3.8 billion in 2008 (prior historical peak was $4.2 billion in 2006)
   
• Savings accounts (regular shares): 12 percent increase
• Hit a record of $34.2 billion
• Increased 282 percent from $9 billion in 2007 (prior historical peak was $10.1 billion in 2006)
   
• Money market accounts: 29 percent increase
• Hit a record of $23 billion
• Increased 100 percent from $11.5 billion in 2012 (has always risen from 2006 – 2021)
   
• Certificates of deposit: -7 percent decrease
• Declined from a record ($17.2 billion in 2020) to $16 billion (not seen since 2019)
• Increased 68 percent from $9.5 billion in 2013 (prior historical peak was $15 billion in 2008)
   
• IRA/Keogh accounts: 3 percent increase
• Hit a record of $4.3 billion
• Increased 14 percent from $3.8 billion in 2014 (prior historical peak was $4.1 billion in 2010)

 

Operations: $676 million spent

Quarterly monies spent on employee payroll, benefits, property, office equipment, occupancy, and vendor contracts (estimated annual figure is $2.7 billion)

• About 13,750 individuals were employed (1 percent increase)