SEATTLE —The Pacific Northwest continues to reign when it comes to credit union membership growth and market share, while other markets have seen declines.
Seattle reached a record level of credit union market penetration in 2025, with 35% of households using a credit union as their primary financial institution, according to a The Seattle Times analysis of Nielsen data.
The analysis found that approximately 557,000 Seattle-area households now rely primarily on a credit union, the highest share recorded by Nielsen since it began tracking the data in 2004.
While Seattle set the record for overall market penetration, the analysis found neighboring Portland posted the largest gain over the past 15 years. Portland’s share of households using a credit union as their primary financial institution increased from about 21% in 2010 to 34% in 2025, a gain of roughly 13 percentage points.
Milwaukee Also Sees Big Gains
Seattle ranked second, climbing from approximately 23% of households in 2010 to 35% in 2025, an increase of about 12 percentage points. Milwaukee ranked third with a gain of about 10 percentage points, according to the analysis.
The Seattle Times attributed much of Seattle’s growth to the surge in consumers switching financial institutions following the 2011 “Bank Transfer Day” movement, which gained momentum after Bank of America announced plans to impose a monthly debit card fee. Although credit unions initially expected the migration to slow, the newspaper said the latest Nielsen data indicate the shift has continued over the long term.
The trend was not reflected nationwide, according to the analysis.
Several large metropolitan areas experienced little change in credit union market share between 2010 and 2025, while others saw declines. Orlando, Fla., recorded the largest drop, falling from about 25% of households to 18%, a decline of roughly seven percentage points. Indianapolis and Raleigh, N.C., also experienced notable decreases.
About the Data
The Nielsen data are based on a survey of approximately 211,000 adults nationwide conducted between July 2024 and October 2025, including about 2,900 respondents in the Seattle metropolitan area. The Seattle market encompasses King, Pierce and Snohomish counties and includes approximately 1.59 million households, according to the analysis.
The Seattle Times also reported that BECU remained the leading primary financial institution in the Seattle market, serving about 20% of area households. JPMorgan Chase ranked second at approximately 16%, followed by Bank of America at about 13%.
