Friday, September 11, 2015

NCUA: Over Half of All CUs Lost Membership Year-over-Year as of Q2 2015

Despite reporting an overall increase in credit union membership, the National Credit Union Administration (NCUA) reported that "52 percent of federally insured credit unions had fewer members at the end of the second quarter of 2015 than a year earlier."

NCUA noted that membership growth was concentrated at larger credit unions.

The median membership growth rate for credit unions was a negative 0.3 percent. Credit unions with falling memberships tend to be small; about 75 percent had assets of less than $50 million.

Median membership growth for federally insured credit unions was negative in 21 states, with Pennsylvania ranking the lowest at minus 2.1 percent.

Read the press release.
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