Tuesday, September 18, 2018

Trend Continues: Almost Half of CUs Report Fewer Members

While overall membership in federally insured credit unions continued to grow during the year ending in the second quarter of 2018, almost half of federally insured credit unions reported fewer members at the end of the second quarter of 2018 compared to a year ago, according to the National Credit Union Administration.

Credit unions with falling membership tend to be small with almost 75 percent of federally insured credit unions had less than $50 million in assets.

In 18 states, the median membership growth rate for federally insured credit unions was negative. At the median, membership declined the most in the District of Columbia (-2.9 percent), followed by Pennsylvania (-1.2 percent), North Dakota (-1.0 percent), and Illinois (-1.0 percent).

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