Tag Archives: Savastate Teachers FCU

2020 HBCU-Based Credit Unions Directory & Map


HBCU-based credit unions have been largely stagnant in the past four years since our last report in 2016. Assets have increased marginally by $1.7 million or a 1.9 percent. Only the top three HBCU-based credit unions saw increases in their assets of the eleven with all others declining. The asset decline was coupled as well with an acute decline in overall members with an almost 10 percent drop from 2016. With millions of dollars and thousands of potential accounts at their doorstep, it is extremely baffling how these institutions continue to struggle to grow. Especially in an environment of heightened social and economic desire to #BankBlack. The most glaring issue for these credit unions is a lack of FinTech investment. This includes everything from lack of a quality website, debit cards, bill pay, an app, and more. Things that would be considered basics at most financial institutions are still notoriously lacking at HBCU-based credit unions.

In 2012, we published a proposal for a merger among the 11 HBCU-based credit unions (or at the very least an alliance) that would immediately create one of the largest African American credit unions by assets and membership. You can read that here.

  1. Southern Teachers & Parents (LA) – $30.3 million
  2. Florida A&M University (FL) – $22.9 million
  3. Virginia State University (VA) – $10.2 million
  4. Howard University Employees (DC) – $10.1 million
  5. Prairie View (TX) – $3.7 million
  6. Councill (AL) – $2.9 million
  7. Savastate Teachers (GA) – $2.7 million
  8. Arkansas A&M College (AR) – $2.3 million
  9. Xavier University (LA) – $1.7 million
  10. Tennessee State University (TN) – $1.5 million
  11. Shaw University (NC) – $0.4 million

TOTAL ASSETS: $88.7 MILLION

MEDIAN ASSETS: $3.3 MILLION

AVERAGE ASSETS: $8.1 MILLION

TOTAL MEMBERSHIP: 14,953

MEDIAN MEMBERSHIP: 754

AVERAGE MEMBERSHIP: 1,359

Source: National Credit Union Administration