A Majority of CUs Have Fewer Members Compared to a Year Ago

While overall credit union membership continued to grow, more than half of all credit unions have fewer members as of September 30, 2015 compared to a year ago, according to the National Credit Union Administration (NCUA).

Fifty-two percent of federally insured credit unions experienced a year-over-year decline in membership as of the end of the third quarter 2015.

The median rate of growth for credit unions was negative 0.2 percent.

Twenty-three states reported negative median membership growth rate for federally insured credit unions. Federally insured credit unions in Pennsylvania had the lowest median membership growth rate at -2.2 percent.

NCUA noted that membership growth is concentrated in the larger credit unions.

On the other hand, credit unions with falling membership tend to be small. Approximately 75 percent of the credit unions with negative membership growth had less than $50 million in assets.

Read the press release.