A Resource For
Credit Union
Members
Credit Union
Members
| Asset Size: | $182.5 million |
| Member's Equity: | $15.3 million |
| Net Worth (Equity) Ratio: | 8.88% |
| Field of Membership: | Beehive Credit Union serves state employees of Utah, and those who live or work in Salt Lake or Utah Counties, UT. |
| Members: | 21,949 |
| Potential Members: | 1,000,000. Beehive currently serves 2.19% of its potential members, or 3.14% if all potential members in Utah county are excluded (though members in Utah county still included.) The national average for peer credit unions is 24.8%. |
| 2006 Net Income (Earnings): | $1.9 million |
| 2007 Return on Assets Ratio YTD: | 0.80%. |
| 2007 RoA Ratio YTD for Peers: | 0.70%. Beehive is on the 61st percentile. |
| Credit Union Website: | www.beehivecredit.com |
| Member Website: | www.protectbeehive.com |
| Utah Credit Union League's website on conversion: | www.membershipcounts.com |
| Data from NCUA Statement of Financial Condition: | www.ncua.gov/indexdata.html |
| In the News: |
"Campaign Season -
First Member-To-Member Letters Inaugurate New Era In CU-Bank Conversion Fight", Credit Union Times, 1/23/08.
"Credit Union wants to become a bank, but plan isn't flying with some members", Salt Lake Tribune, 01/12/08. No subscription required. "An Intimate Argument - Two Weeks After First Notice Sent, Debate Over Beehive Fate Heats Up", Credit Union Times, 12/12/07. "Banking Lobbyist Key Figure On Beehive Board", Credit Union Times, 12/06/07. "Lucrative opportunity knocks for well-connected state lobbyist", The Salt Lake Tribune, 3/24/07. (requires subscription and search.) "Beehive CU is exploring a conversion to bank charter", Credit Union Journal, 3/12/07. |