Tuesday, December 13, 2016

Over Half of the Credit Unions Reported Fewer Members Compared to A Year Earlier

While overall credit union membership continued to grow during the year ending in the third quarter of 2016, more than half of the credit unions in the country lost members over the last twelve months, according to the National Credit Union Administration.

Fifty-one percent of federally insured credit unions had fewer members at the end of the third quarter of 2016 than a year earlier.

The median membership growth rate was a negative 0.1 percent over the previous year.

Twenty-two states had negative median membership growth. This means more than half of the federally-insured credit unions in those 22 states had fewer members compared to a year ago.

At the median, year-over-year membership declined the most in Pennsylvania (-1.6 percent) and Oklahoma (-1.3 percent). Three other states reported negative year-over-year membership growth rate of one percent or more at the median -- North Dakota (-1 percent), Montana (-1.1 percent), and New Jersey (-1.2 percent).

Approximately 75 percent of credit unions with declining membership had assets of less than $50 million.

No comments:

Post a Comment


The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.