Virginia's credit union system is rich in diversity and history. The commonwealth is home to some the nation's largest credit unions with billions of dollars in assets, but it also boasts tiny credit unions with assets of tens of thousands of dollars.
The League also remains a strong proponent of charter choice for credit unions, believing that credit unions and their members benefit from the ability to choose either a federal or state charter, or to pursue a field-of-membership that best suits the business and service needs of the credit union and its members.
Key Statistics: (As of June 2013)
|Number of Credit Unions||172|
|Total Assets||$96.5 Billion|
|Total Loans||$65.9 Billion|
|Total Savings||$75.1 Billion|
|Total Members||8 Million|
|Federally Chartered Credit Unions (Percentage with Single-Sponsor)||15.7%|
|Federally Chartered Credit Unions (Percentage with Multiple Common Bonds/Other Field-of-Membership)||39.5%|
|Federally Chartered Credit Unions (Percentage with a Community-Based Charter)||16.3%|
|State Chartered Credit Unions (Total Percentage, which includes Community Charters, Single Common Bond and Multiple Common Bond)||28.5%|
|Number of Full-Time Employees||17,002|
|Number of Part-Time Employees||1,836|
|Employee Compensation and Benefits||$984 million|
|Total Number of Branch Offices (includes offices outside Virginia)||784|
The League twice annually publishes the Credit Union Profile, which offers a summary of the trends and statistics driving Virginia-based credit unions, along with the milestones reached by our credit unions.