Half of CUs Report Fewer Members in 2017 Compared to 2016

While overall credit union membership grew in 2017, the membership growth was largely concentrated at larger credit unions.

The National Credit Union Administration reported that half of federally insured credit unions had fewer members at the end of the fourth quarter of 2017 than a year earlier.

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

Median membership growth was negative in 20 states. At the median, membership declined the most in New Jersey (-1.2 percent), the District of Columbia (-1.1 percent), and Pennsylvania (-1.0 percent).

On the other hand, Vermont had the highest median membership growth rate at 3.3 percent, followed by New Mexico at 2.8 percent and Oregon at 2.5 percent.

Read the report.