Tuesday, March 24, 2020

CUs in 22 States and DC Had Negative Median Membership Growth in 2019

At least half of the federally-insured credit unions in 22 states and the District of Columbia reported a decline in membership for 2019, according to the National Credit Union Administration.

At the median, credit union membership declined the most in Pennsylvania at minus 1.2 percent for 2019, followed by credit unions in Arkansas at negative 1 percent.

The data show that there is a positive relationship between median state membership growth and median state deposit (share) growth in 2019. The R-squared is 0.4793. This indicates that almost half of the observed variation in median state share growth can be explained by median state membership growth. (click on image to enlarge)

Nationally, year-over-year membership growth at the median credit union was unchanged for 2019.

Most credit unions that reported a year-over-year decline in membership tend to be small with over 70 percent of the credit unions reporting a decline in membership have less than $50 million in assets.

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