Fifty-one Percent of CUs See Year-over-Year Decline in Membership

More than half of the nation's federally insured credit unions reported fewer members at the end of the first quarter of 2017 compared to a year ago.

The National Credit Union Administration reported that 51 percent of federally insured credit unions had fewer members at the end of the first quarter of 2017 than a year earlier. This is the third consecutive quarter where over half of all federally insured credit unions had fewer members compared to the same quarter a year earlier.

The median year-over-year credit union membership growth rate was -0.1 percent.

Median membership growth was negative in 22 states. At the median, membership declined the most in the District of Columbia (-2.4 percent), followed by Pennsylvania (-1.5 percent). Other states reporting median year-over-year membership growth rate of negative 1 percent or less were Ohio (-1 percent), Nebraska (-1.1 percent), New Jersey (-1.2 percent), Oklahoma (-1.2 percent), and Montana (-1.3 percent).

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

Read the press release.