Credit unions have seen significant growth in recent years. In 2019, the total assets of federally insured credit unions amounted to $1.57 trillion. By March 2024, this figure had surged to $2.31 trillion, representing an impressive 47% increase in less than five years.

Today, the 10 largest credit unions collectively hold around $359 billion in deposits and $427 billion in total assets.

Here’s a breakdown of the largest credit unions in the U.S. by total assets, based on data from the National Credit Union Administration (NCUA).

Navy Federal is the largest credit union in the United States. With around 355 branches, primarily located in the Northeast, it rivals some of the biggest banks in the country. Navy Federal boasts over 13 million members and holds $151.4 billion in deposits. The credit union offers a comprehensive range of financial products and services, including checking and savings accounts, credit cards, and auto loans.

To become a member, you or a family/household member must have a connection to the armed forces, the U.S. Department of Defense, or the National Guard.

  • Assets: $178 billion
  • Headquarters: Vienna, Virginia

Chartered in 1937, State Employees’ Credit Union (SECU) is the second-largest credit union in the United States. With over 275 branches exclusively in North Carolina, SECU holds more than $45 billion in deposits and serves nearly 2.8 million members. Membership is primarily available to employees and their families in North Carolina.

  • Assets: $55.9 billion
  • Headquarters: Raleigh, North Carolina

Pentagon Federal Credit Union (PenFed) is the third largest credit union by total assets but ranks second in terms of membership, boasting over 2.8 million members. PenFed holds $29.6 billion in deposits and operates 48 branches across the United States. It offers a wide range of financial products, including certificates of deposit (CDs), money market accounts, and checking and savings accounts. PenFed membership is open to anyone.

  • Assets: $34.4 billion
  • Headquarters: McLean, Virginia

SchoolsFirst Federal Credit Union, based in California, serves over 1.3 million members with more than $25 billion in total deposits and 69 branches. It caters to educational communities across the state. Membership is available to current or retired school employees residing in California, their family members, employees of companies primarily offering direct services to schools or districts in California, and college students enrolled in eligible education programs with a student teaching requirement.

  • Assets: $30.6 billion
  • Headquarters: Tustin, California

Boeing Employees’ Credit Union (BECU), primarily based in the Northwest, is Washington state’s largest credit union. With over 1.4 million members holding more than $25 billion in deposits, BECU offers membership to individuals who live, work, or attend school in Washington state, residents of select counties in Oregon, Idaho, and South Carolina, and those affiliated with partner companies such as Boeing.

  • Assets: $30.2 billion
  • Headquarters: Tukwila, Washington

Golden 1 Credit Union, chartered in 1933, now serves over 1 million members with more than $17 million in total deposits. The credit union offers a comprehensive range of financial products, including deposit and loan services, across its 63 branches throughout California.

Membership is available to anyone living or working in California. Non-Californians can also join if they have a family member or domestic partner who is a current member or if they belong to a Select Employee Group.

  • Assets: $20.5 billion
  • Headquarters: Sacramento, California

Founded in 1939, America First Credit Union is a Utah-based institution with most of its branches located in the state. The credit union has 1.4 million members and holds $17.9 billion in deposits. Membership is primarily open to those who live, work, worship, or attend school in Salt Lake, Utah, and Juab Counties. It is also available to residents in certain areas of Arizona, Nevada, New Mexico, Idaho, and Oregon.

  • Assets: $20.3 billion
  • Headquarters: Riverdale, Utah

Alliant Credit Union serves over 850,000 members and holds more than $15 billion in deposits. This online-only credit union does not maintain any physical branches.

Membership is open to current or retired employees (and their families) of partner businesses and organizations in the U.S. Additionally, people who live or work in communities near Alliant’s headquarters in Chicago, as well as Alliant Credit Union Foundation digital inclusion advocates, are eligible for membership.

  • Assets: $20.1 billion
  • Headquarters: Chicago, IL

Mountain America Credit Union, the 9th largest in the U.S., is located solely in western states. With over 1.2 million members and $16.9 billion in deposits, it operates more than 100 branches across Utah, New Mexico, Arizona, Idaho, Nevada, and Montana.

Membership is primarily open to residents of certain areas in Utah, but it can also extend to family and household members. Employees and volunteers of select organizations are also eligible to join.

  • Assets: $19.3 billion
  • Headquarters: Sandy, Utah

Suncoast Credit Union, with over $15 billion in total deposits, primarily serves Florida with its branches. Membership is open to individuals who live, work, attend school, or participate in religious activities in the counties served by Suncoast Credit Union. Additionally, alumni of Florida College are eligible to join.

  • Assets: $18.2 billion
  • Headquarters: Tampa, Florida

Credit unions have seen remarkable growth recently, with the top 10 institutions collectively managing billions of dollars in assets and catering to millions of members. Eligibility criteria may differ, but credit unions generally welcome anyone to join and access their comprehensive array of financial services and products. As the banking landscape evolves, exploring credit unions as an alternative to traditional banks holds considerable merit.