Friday, June 12, 2015

NCUA: Over Half of CUs Lost Members

As of the end of the first quarter, the National Credit Union Administration (NCUA) reported that over half of all credit unions experienced a year-over-year decline in membership.

The median membership growth rate was negative 0.4 percent.

Nationally, 53 percent of federally insured credit unions lost membership over the year, and 75 percent of those credit unions with declining membership had assets of less than $50 million.

Median membership growth was negative in 23 states. Pennsylvania and Virginia had the lowest median growth rate at minus 1.9 percent each.

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