Credit Union Dips: The Orange County Teachers Federal Credit Union, the county's largest credit union, slipped a notch in the ranks of the nation's largest 100 credit unions, according to a recent survey.
The Santa Ana credit union was the nation's 13th largest at the end of December, down from 12th place a year earlier, according to American Banker. It is the fourth largest in the state.
But dropping a spot in the rankings was about the only "setback" for the credit union. It outperformed the industry's averages in assets, capital and membership.
It had $732.7 million in assets at the end of December, a 9% growth over its year-earlier size of $673.7 million. It increased its membership base 10%, to 82,430 account holders. And it boosted its capital--its final reserve against losses--to $102.7 million by year's end. Its net income rose 32% to $11.1 million last year, from $8.4 million in 1989.
Orange County Teachers was among 25 California credit unions to make the publication's top 100 list. No other county-based credit union broke into the top 100.