Thursday, March 16, 2017

Fifty-one Percent of CUs Had Fewer Members Compared to a Year Ago

The National Credit Union Administration (NCUA) reported that over half of all federally insured credit unions reported a year-over-year decline in credit union membership at the end of 2016.

While overall credit union membership increased for the four quarters ending December 31, 2016, the median membership growth rate fell by 0.1 percent.

In comparison, the median membership growth rate was negative 0.2 percent for the four quarters ending December 31, 2015.

Fifty-one percent of all federally insured credit unions reported fewer members as of December 31, 2016 compared to a year ago.

NCUA noted that 75 percent of the credit unions reporting fewer members compared to a year ago had less than $50 million in assets.

Twenty-three states reported negative median membership growth rate for the four quarters ending on December 31, 2016. At the median, the membership growth rate for credit unions in the District of Columbia was minus 1.9 percent, followed by Pennsylvania at minus 1.5 percent and New Jersey at negative 1.4 percent.

On the other hand, credit unions in Alaska and Maine reported the fastest median membership growth rates at 2.4 percent and 2.0 percent, respectively.

Read the report.

1 comment:

  1. How difficult would it be to see what the net member growth is of credit unions with assets less than $1B?
    And, the key ratios.
    What is the percentage of industry net income in the group?
    Then look at it for cdfi credit unions.
    The $ that trump wants to cut from cdfi, what is the amount and what % is it of the cdfi aggregate net income?
    How exactly are those funds being used?



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