Top 20 list of credit unions by asset size of 2023
As credit unions continue to gain popularity among consumers seeking a more personalized banking experience, it’s essential to keep an eye on the biggest players in the industry. In this blog post, we’ll unveil the top 20 credit unions by asset size in 2023, showcasing those that have risen above the rest and solidified their status as financial powerhouses. From coast to coast, these credit unions are making a significant impact on the lives of their members, offering competitive rates, exceptional services, and a strong sense of community.
Top 20 list of credit unions by asset size of 2023
The credit union industry has experienced significant growth over the years, with many consumers opting for credit unions to fulfill their banking needs. These financial institutions offer a unique blend of personalized service, competitive rates, and a strong sense of community. Here is the list of the top credit unions by asset size of 2023 and they include the following:
Please note that the asset sizes mentioned below are approximate and based on the latest available data
1. Navy Federal Credit Union – $145 billion
With its roots in serving the military community, Navy Federal Credit Union has grown to become the largest credit union in the United States. Boasting an impressive asset size, Navy Federal offers a wide range of financial products and services to its members, including loans, mortgages, and credit cards.
2. State Employees’ Credit Union (SECU) – $54 billion
SECU, dedicated to serving the employees of North Carolina, boasts a substantial asset size, which allows it to offer competitive rates on loans and savings accounts, as well as a robust offering of financial products.
3. PenFed Credit Union – $37 billion
 PenFed Credit Union, initially established for military personnel, has expanded its membership base and now offers its services to a broader audience. Its significant asset size enables PenFed to provide a comprehensive range of financial services.
4. BECU (Boeing Employees Credit Union) – $29 billion
BECU, which originated as a credit union for Boeing employees, has since opened its membership to a wider community. Its substantial asset size has enabled BECU to offer competitive rates and a variety of financial products.
5. SchoolsFirst Federal Credit Union – $27 billion
 Focused on serving the educational community in California, SchoolsFirst Federal Credit Union has achieved a remarkable asset size, making it one of the largest credit unions in the nation. SchoolsFirst offers a variety of financial services tailored to educators.
6. The Golden 1 Credit Union – $23 billion
As one of California’s largest credit unions, The Golden 1 Credit Union offers a comprehensive suite of financial products, such as auto loans, mortgages, and credit cards. Its significant asset size ensures that it remains competitive in the market.
7. Alliant Credit Union – $22 billion
With its strong asset size and a focus on providing excellent service to its members, Alliant Credit Union has established itself as a leading credit union in the United States. Offering an array of financial services, including loans, credit cards, and investment options, Alliant remains a top choice for many consumers.
8. First Tech Federal Credit Union – $20 billion
Catering to the technology industry, First Tech Federal Credit Union has grown its asset size substantially, making it one of the largest credit unions in the country. With a focus on innovation, First Tech offers a wide range of financial products and services tailored to the unique needs of its tech-savvy members.
9. Digital Federal Credit Union (DCU) – $19 billion
 DCU has made a name for itself by focusing on digital services and innovative financial products. Its impressive asset size allows it to provide competitive rates and an extensive range of services to its members.
10. America First Credit Union – $18 billion
With a strong presence in the western United States, America First Credit Union boasts a considerable asset size and offers its members a comprehensive array of financial services. Members benefit from competitive rates on loans, mortgages, and savings accounts.
11. Suncoast Credit Union – $17 billion
As the largest credit union in Florida, Suncoast Credit Union has achieved an impressive asset size, enabling it to serve its members with a wide range of financial products and services. With a focus on the local community, Suncoast offers competitive rates on loans, mortgages, and savings accounts, as well as personalized customer service
12. Randolph-Brooks Federal Credit Union – $16 billion
With a strong presence in Texas, Randolph-Brooks Federal Credit Union has grown its asset size considerably to $16 billion, solidifying its position as a top credit union. Offering a variety of financial services, such as loans, mortgages, and investment options, Randolph-Brooks continues to serve its members with exceptional customer care.
13. Security Service Federal Credit Union – $14 billion
Security Service Federal Credit Union, primarily serving the South Central region of the United States, has an impressive asset size of $14 billion. This allows it to provide its members with a comprehensive range of financial services and competitive rates on loans and savings accounts.
14. Redstone Federal Credit Union – $12 billion
Operating primarily in Alabama, Redstone Federal Credit Union has grown its asset size significantly to $12 billion, becoming one of the largest credit unions in the region. Offering a variety of financial services, including loans, mortgages, and credit cards, Redstone remains dedicated to serving its members with personalized care.
15. PSECU (Pennsylvania State Employees Credit Union) – $11 billion
With a focus on serving Pennsylvania state employees, PSECU has achieved a notable asset size of $11 billion, allowing it to offer a comprehensive range of financial services to its members. PSECU provides competitive rates on loans, mortgages, and savings accounts, ensuring that its members receive the best possible financial solutions.
16. Mountain America Credit Union – $10.5 billion
Serving the Intermountain West region, Mountain America Credit Union has grown its asset size substantially to $10.5 billion and now ranks among the largest credit unions in the country. Offering a wide range of financial products and services, including loans, mortgages, and investment options, Mountain America remains dedicated to serving its members’ financial needs.
Originally founded to serve Delta Air Lines employees, Delta Community Credit Union has expanded its membership and grown its asset size significantly to $10 billion. With a focus on providing excellent service to its members, Delta Community offers a variety of financial products, such as auto loans, home equity loans, and credit cards.
17.Vystar Credit Union – $9.5 billion
With a strong presence in Florida, Vystar Credit Union has achieved an impressive asset size of $9.5 billion, enabling it to offer a wide range of financial services to its members. With competitive rates on loans, mortgages, and savings accounts, Vystar remains dedicated to providing its members with the best possible financial solutions.
18. Patelco Credit Union – $9 billion
Based in California, Patelco Credit Union has grown its asset size considerably to $9 billion, earning it a spot among the top 20 credit unions in the United States. Offering a variety of financial services, such as loans, mortgages, and investment options, Patelco remains committed to serving its members with personalized care.
19. Allegacy Federal Credit Union – $8.5 billion
Rounding out the top 20 list, Allegacy Federal Credit Union serves members in North Carolina with a focus on providing exceptional financial services. With a significant asset size of $8.5 billion, Allegacy offers competitive rates on loans, mortgages, and savings accounts, as well as a variety of other financial products.
Conclusion
In conclusion, these top 20 credit unions by asset size in 2023 demonstrate the strength and diversity of the credit union industry. By offering personalized services, competitive rates, and a sense of community, these institutions have risen to the top and continue to make a significant impact on the lives of their members. As a consumer, exploring the offerings of these credit unions can provide
FAQS
Q: What is a credit union?
A: A credit union is a financial institution that is owned and controlled by its members, who are also its customers. Unlike traditional banks, credit unions are not-for-profit organizations, which means that any profits are returned to members in the form of lower fees, higher interest rates on deposits, and better loan rates.
Q: Why should I join a credit union?
A: There are many reasons why you might want to join a credit union. First, credit unions often offer better interest rates on loans and higher interest rates on deposits than traditional banks. Additionally, credit unions tend to have lower fees and more personalized service than big banks. Finally, because credit unions are owned by their members, they are more likely to prioritize their members’ needs and interests over those of shareholders.
How do I join a credit union?
A: To join a credit union, you typically need to meet certain eligibility criteria. This may include living in a certain area, working for a particular employer, or belonging to a specific organization. Once you have determined that you are eligible to join a credit union, you will need to fill out an application and open an account.
Q: What types of accounts can I open at a credit union?
A: Credit unions offer a wide range of accounts, including savings accounts, checking accounts, money market accounts, and certificates of deposit (CDs). They may also offer specialized accounts for things like retirement savings or college expenses.
Q: Are my deposits at a credit union insured?
A: Yes, most credit unions are insured by the National Credit Union Administration (NCUA), which is a federal agency that provides insurance coverage for deposits up to $250,000 per account.
