Thursday, December 13, 2018

Roughly Half of CUs Had Fewer Members Y-O-Y

While overall membership at credit unions grew in the third quarter, roughly half of the country's credit union reported fewer members at the end of the third quarter of 2018 than a year ago.

Median membership growth was negative in 13 states. The District of Columbia had a median membership growth rate of negative 1.6 percent, followed by Illinois at minus 1.5 percent. Other states with negative median year-over-year membership growth at the end of the third quarter were Connecticut (-0.2 percent), Louisiana (-0.5 percent), Massachusetts (-0.6 percent), Maryland (-0.1 percent), North Carolina (-0.2 percent), North Dakota (-1.1 percent), New Jersey (-1.1 percent), Oklahoma (-0.3 percent), Pennsylvania (-1.4 percent), Texas (-0.2 percent), and West Virginia (-0.6 percent).

Median membership growth was unchanged in New York, Tennessee, and Virginia.

Credit unions reporting negative membership growth tend to be smaller with approximately 75 percent have less than $50 million in assets.

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