Friday, July 10, 2020

Over Half of CUs Reported Fewer Members Compared to a Year Ago

Over half of all federally insured credit unions reported a year-over-year decline in membership at the end of the first quarter of 2010, according to the National Credit Union Administration (NCUA).

At the median, credit union membership declined by 0.1 percent over the last year.

NCUA noted that credit unions with declining membership tend to be small with almost 70 percent of the credit unions had less than $50 million in assets.

In 23 states and the District of Columbia (D.C.), the median membership growth rate was negative. That means at least half of the credit unions in those states and D.C. had a year-over-year drop in membership.

At the median, membership at credit unions declined the most in New Jersey at -1.8 percent, Pennsylvania at -1.2 percent, North Dakota at -1.1 percent, and Arkansas at -1.0 percent.

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