Monday, March 16, 2015

Over Half of All CUs Saw A Decline in Membership for 2014

According to the National Credit Union Administration, 53 percent of federally insured credit unions had fewer members at the end of the fourth quarter of 2014 than a year earlier.

The median membership growth rate for the last year was negative 0.3 percent.

The NCUA noted that more than 75 percent of the credit unions with a decline in membership had less than $50 million in assets.

In 27 states, the median membership growth rate for federally insured credit unions was negative. Pennsylvania had the lowest median membership growth rate at -1.8 percent, followed by New Hampshire at -1.6 percent.

Other states that saw median membership growth rate fall by more than 1 percent year-over-year were Virginia (-1.5 percent), New Jersey (-1.4 percent), Maryland (-1.2 percent), Ohio (-1.1 percent), and Montana (1.0 percent).

Read the press release.

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