At Least Half of CUs in 18 States and DC Had Fewer Members Compared to a Year Ago

The National Credit Union Administration (NCUA) reported on December 17 that almost half of the credit unions at the end of the third quarter 2019 had fewer members than a year earlier.

Credit union membership increased at the median by 0.1 percent compared to a year ago.

Most credit union reporting a year-over-year decline in membership tend to be small with almost 70 percent having less than $50 million in assets.

Eighteen states and the District of Columbia reported that at least half of their credit unions saw a decline in membership compared to a year ago.

At the median, credit union membership declined the most in Pennsylvania at negative 1.4 percent followed by Illinois at minus 1 percent.

In addition, NCUA reported that year-over-year median shares and deposits growth was negative at four states -- New Jersey (-2.1 percent), Connecticut (-0.7 percent), Arkansas (-0.6 percent), and North Carolina (-0.3 percent). Both Kentucky and Pennsylvania reported no change in median shares and deposits growth.

The following chart depicts the relationship between median year-over-year membership growth by state and median shares and deposits growth by state.

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